Buy Insecticides (India), target price Rs 1020: Axis Securities

Axis Securities has buy call on Insecticides (India) with a target price of Rs 1020. The current market price of Insecticides (India) is Rs 902.4. Time period given by analyst is Intra Day when Insecticides (India) Ltd. price can reach defined target.

Insecticides (India) Ltd., incorporated in the year 1996, is a Small Cap company (having a market cap of Rs 1782.18 Crore) operating in Pesticides/Agro Chemicals sector.

Insecticides (India) Ltd. key Products/Revenue Segments include Agro Chemicals Intermediates, Other Operating Revenue, Scrap and Job Work for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 280.07 Crore, down -10.99 % from last quarter Total Income of Rs 314.65 Crore and up 8.66 % from last year same quarter Total Income of Rs 257.74 Crore. Company reported net profit after tax of Rs 22.39 Crore in latest quarter.

Investment Rational
Weekly “Rounding Bottom” formation breakout, and above all 20, 50, 100 and 200-Day SMA

Promoter/FII Holdings
Promoters held 72.16 per cent stake in the company as of 31-Mar-2022, while FIIs owned 5.42 per cent, DIIs 8.91 per cent.