Buy Bodal Chemicals, target price Rs 156: ICICI Direct

ICICI Direct has buy call on Bodal Chemicals with a target price of Rs 156. The current market price of Bodal Chemicals Ltd. is Rs 139.35.

Time period given by analyst is 14 days when Bodal Chemicals Ltd. price can reach defined target.

Bodal Chemicals Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 1704.94 Crore) operating in Chemicals sector.


Bodal Chemicals Ltd. key Products/Revenue Segments include Chemicals (Basic), Export Incentives and Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 428.18 Crore, down -1.02 % from last quarter Total Income of Rs 432.60 Crore and up 250.12 % from last year same quarter Total Income of Rs 122.30 Crore. Company reported net profit after tax of Rs 28.80 Crore in latest quarter.

Investment Rationale
The share price of Bodal Chemicals has generated a breakout above a bullish Flag pattern signaling continuation of the up trend and offers fresh entry opportunity

Promoter/FII Holdings
Promoters held 58.94 per cent stake in the company as of 30-Sep-2021, while FIIs owned 2.87 per cent, DIIs 0.02 per cent.