Buy Chambal Fertilisers & Chemicals, target price Rs 400: Yes Securities

Yes Securities has buy call on Chambal Fertilisers & Chemicals with a target price of Rs 400. The current market price of Chambal Fertilisers & Chemicals Ltd. is Rs 379.15.

Time period given by analyst is Intra Day when Chambal Fertilisers & Chemicals Ltd. price can reach defined target.
Chambal Fertilisers & Chemicals Ltd., incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 15790.93 Crore) operating in Fertilisers sector.


Chambal Fertilisers & Chemicals Ltd. key Products/Revenue Segments include Fertilisers and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 4495.93 Crore, up 26.75 % from last quarter Total Income of Rs 3547.01 Crore and up 11.31 % from last year same quarter Total Income of Rs 4039.15 Crore. Company reported net profit after tax of Rs 425.38 Crore in latest quarter.

Investment Rationale
With sustained move above the 50-day average, the stock has formed multiple bullish candles. Positive follow-up action above 380 could lift the stock till the 400 zone.

Promoter/FII Holdings
Promoters held 60.39 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.42 per cent, DIIs 13.18 per cent.