Buy PCBL, target price Rs 163: Axis Securities

Axis Securities has buy call on PCBL with a target price of Rs 163. The current market price of PCBL Ltd. is Rs 143.8.
Time period given by analyst is 4 weeks when PCBL Ltd. price can reach defined target.

PCBL Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 5493.97 Crore) operating in Tyres sector.


PCBL Ltd. key Products/Revenue Segments include Carbon Black, Power, Export Incentives and Scrap for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1420.77 Crore, up 15.42 % from last quarter Total Income of Rs 1230.97 Crore and up 41.00 % from last year same quarter Total Income of Rs 1007.63 Crore. Company reported net profit after tax of Rs 126.29 Crore in latest quarter.

Investment Rationale
The daily and weekly strength indicator RSI is in positive terrain and sustaining above 50 mark indicating sustained strength

Promoter/FII Holdings
Promoters held 51.38 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.18 per cent, DIIs 6.06 per cent.