HDFC Securities, a well-regarded financial services provider, has issued a buy recommendation for NOCIL, setting a target price of Rs 273. Presently, NOCIL Ltd. is trading at a market price of Rs 233.75.
NOCIL Ltd., established in the year 1961, is a company with a Small Cap designation, having a market capitalization of Rs 3,901.18 Crore, and operates within the Chemicals sector.
The key Products/Revenue Segments for NOCIL Ltd. include Duty Drawback, Other Operating Revenue, and Scrap for the fiscal year ending on March 31, 2022.
For the quarter ending on June 30, 2023, the company reported a Consolidated Total Income of Rs 401.66 Crore, representing a 1.52% increase from the Total Income of Rs 395.66 Crore in the previous quarter. However, it is worth noting that this figure reflects a decline of -21.24% when compared to the Total Income of Rs 509.95 Crore reported in the same quarter of the previous year. In this quarter, the company achieved a net profit after tax amounting to Rs 34.30 Crore.
As of June 30, 2023, the promoters held a 33.84% stake in the company, while FIIs (Foreign Institutional Investors) owned 5.44%, and DIIs (Domestic Institutional Investors) held 4.66% of the company.
HDFC Securities’ buy recommendation for NOCIL indicates their positive outlook on the stock, suggesting potential for growth and providing investors with an opportunity to consider.
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