Buy NRB Bearings, target price Rs 158: ICICI Direct

ICICI Direct has buy call on NRB Bearings with a target price of Rs 158. The current market price of NRB Bearings Ltd. is Rs 143.85. Time period given by analyst is 14 days when NRB Bearings Ltd. price can reach defined target.

NRB Bearings Ltd., incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 1369.52 Crore) operating in Auto Ancillaries sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 263.21 Crore, up 5.70 % from last quarter Total Income of Rs 249.02 Crore and up 36.93 % from last year same quarter Total Income of Rs 192.22 Crore. Company reported net profit after tax of Rs 35.29 Crore in latest quarter.


Investment Rationale
The brokerage expects the stock to head towards Rs 158 levels in the coming weeks being the price parity with previous up move (113-141=28 points) added to the recent trough of around Rs 130 signals upside towards Rs 158 levels.