Buy NOCIL, target price Rs 310: Yes Securities

Yes Securities has buy call on NOCIL with a target price of Rs 310. The current market price of NOCIL Ltd. is Rs 290.6.
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 4834.00 Crore) operating in Chemicals sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 345.61 Crore, up 6.56 % from last quarter Total Income of Rs 324.33 Crore and up 194.76 % from last year same quarter Total Income of Rs 117.25 Crore. Company reported net profit after tax of Rs 47.41 Crore in latest quarter.

Investment Rationale
With sustained moves above important averages, the stock has regained momentum on upside and is on a verge to break above the hurdle zone.

Promoter/FII Holdings
Promoters held 33.9 per cent stake in the company as of June 30, 2021, while FIIs held 2.2 per cent, DIIs 4.4 per cent and public and others 59.6 per cent.