HDFC Securities Recommends Buying Neogen Chemicals with a Target Price of Rs 2129

HDFC Securities, a prominent financial services provider, has issued a buy recommendation for Neogen Chemicals Ltd., setting a target price of Rs 2129. Currently, Neogen Chemicals Ltd. is trading at a market price of Rs 1710.

Established in 1989, Neogen Chemicals Ltd. operates in the Chemicals sector and is categorized as a Small Cap company, with a market capitalization of Rs 4,264.62 Crore.

The key Products/Revenue Segments for Neogen Chemicals Ltd. encompass Organic/Inorganic Heavy Chemicals and Other Operating Revenue 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 166.67 Crore. This signifies a decrease of 18.95% when compared to the Total Income of Rs 205.65 Crore in the previous quarter, but a substantial increase of 12.01% in contrast to the Total Income of Rs 148.80 Crore in the same quarter of the previous year. Moreover, the company achieved a net profit after tax amounting to Rs 9.73 Crore in the latest quarter.

As of June 30, 2023, the promoters held a 60.19% stake in the company, while FIIs (Foreign Institutional Investors) owned 4.3%, and DIIs (Domestic Institutional Investors) held 19.87% of the company.

HDFC Securities’ buy recommendation for Neogen Chemicals highlights their positive outlook on the stock, suggesting potential for growth and providing investors with an opportunity to consider.

Disclaimer: The views and investment tips expressed by investment experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.​​
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