Buy NOCIL, target price Rs 370: HDFC Securities

HDFC Securities has buy call on NOCIL with a target price of Rs 370. The current market price of NOCIL Ltd. is Rs 303.9.

Time period given by analyst is one year 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 5067.96 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 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.


Promoter/FII Holdings
Promoters held 33.88 per cent stake in the company as of 30-Sep-2021, while FIIs owned 2.12 per cent, DIIs 4.43 per cent.