Buy Gujarat Narmada Valley Fertilizers, target price Rs 620: Axis Securities

Axis Securities has buy call on Gujarat Narmada Valley Fertilizers & Chemicals with a target price of Rs 620. The current market price of Gujarat Narmada Valley Fertilizers & Chemicals Ltd. is Rs 552.45. Time period given by analyst is 4 weeks 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 8642.84 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 31-12-2021, the company reported a Consolidated Total Income of Rs 2428.48 Crore, up 12.76 % from last quarter Total Income of Rs 2153.63 Crore and up 56.37 % from last year same quarter Total Income of Rs 1553.04 Crore. Company reported net profit after tax of Rs 538.32 Crore in latest quarter.

Investment Rationale
The weekly and monthly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength.

Promoter/FII Holdings
Promoters held 41.18 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.27 per cent, DIIs 6.6 per cent.