Buy NBCC (India), target price Rs 60: Yes Securities

Yes Securities has buy call on NBCC (India) with a target price of Rs 60. The current market price of NBCC (India) Ltd. is Rs 54.5. Time period given by analyst is Intra Day when NBCC (India) Ltd. price can reach defined target.

NBCC (India) Ltd., incorporated in the year 1960, is a Mid Cap company (having a market cap of Rs 9819.00 Crore) operating in Construction sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2706.81 Crore, up 25.95 % from last quarter Total Income of Rs 2149.17 Crore and up 2.09 % from last year same quarter Total Income of Rs 2651.44 Crore. Company reported net profit after tax of Rs 83.66 Crore in latest quarter.


Investment Rationale
Short-term moving average lines have converged near the current levels. Since convergences follow divergences and vice versa, at the very least, we can expect much more net movement from here. Appearance of a bullish candle with identical open and low at current juncture could mean that the recent congestion is in a mature phase.