Buy NLC India, target price Rs 107: IIFL

IIFL has buy call on NLC India with a target price of Rs 107. The current market price of NLC India is Rs 105.32. IIFL recommended to keep stop loss at Rs 99.

NLC India, incorporated in the year 1956, is a Mid Cap company (having a market cap of Rs 14157.56 Crore) operating in Power sector.

NLC India key Products/Revenue Segments include Power, Coal, Lignite, Fly Ash and Consultancy Income for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 5855.57 Crore, up 47.03 % from last quarter Total Income of Rs 3982.49 Crore and up 84.99 % from last year same quarter Total Income of Rs 3165.36 Crore. Company has reported net profit after tax of Rs 836.56 Crore in latest quarter.

Investment Rationale
The stock has given a flag pattern breakout.

Promoter/FII Holdings
Promoters held 79.2 per cent stake in the company as of 31-Mar-2023, while FIIs owned 0.67 per cent, DIIs 6.89 per cent.