Buy Gujarat Narmada Valley Fertilizers & Chemicals, target price Rs 635: Religare Securities

Religare Broking has buy call on Gujarat Narmada Valley Fertilizers & Chemicals with a target price of Rs 635.
The current market price of Gujarat Narmada Valley Fertilizers & Chemicals Ltd. is Rs 607.85.

Time period given by analyst is Intra Day when Gujarat Narmada Valley Fertilizers & Chemicals Ltd. price can reach defined target.


Gujarat Narmada Valley Fertilizers & Chemicals Ltd., incorporated in the year 1976, is a Small Cap company (having a market cap of Rs 9453.35 Crore) operating in Fertilisers sector.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd. key Products/Revenue Segments include Chemicals, Fertilizers and Others for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2832.35 Crore, up 16.63 % from last quarter Total Income of Rs 2428.48 Crore and up 58.92 % from last year same quarter Total Income of Rs 1782.21 Crore. Company reported net profit after tax of Rs 643.26 Crore in latest quarter.

Investment Rationale
Reclaimed the support zone of long-term MA(200 EMA) and is likely to extend this move

Promoter/FII Holdings
Promoters held 41.18 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.45 per cent, DIIs 5.16 per cent.