Buy NOCIL, target price Rs 250: HDFC Securities

HDFC Securities has buy call on NOCIL with a target price of Rs 250. The current market price of NOCIL Ltd. is Rs 234.65. Time period given by analyst is Intra Day when NOCIL Ltd. price can reach defined target.

NOCIL Ltd., incorporated in the year 1961, is a Small Cap company (having a market cap of Rs 3903.66 Crore) operating in Chemicals sector.

NOCIL Ltd. key Products/Revenue Segments include Other Operating Revenue, Duty Drawback and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 389.40 Crore, up 3.42 % from last quarter Total Income of Rs 376.53 Crore and up 40.95 % from last year same quarter Total Income of Rs 276.26 Crore. Company reported net profit after tax of Rs 29.79 Crore in latest quarter.

Investment Rationale
Stock closed above 20-day SMA. RSI 14 on daily has taken support of 40 suggests bullish range shift.

Promoter/FII Holdings
Promoters held 33.85 per cent stake in the company as of 31-Mar-2022, while FIIs owned 2.54 per cent, DIIs 4.27 per cent.