Buy Gujarat Narmada Valley Fertilizers & Chemicals, target price Rs 500: Yes Securities

Yes Securities has buy call on Gujarat Narmada Valley Fertilizers & Chemicals with a target price of Rs 500.
The current market price of Gujarat Narmada Valley Fertilizers & Chemicals Ltd. is Rs 464.9. Time period given by analyst is Intra Day when Gujarat Narmada Valley Fertilizers & Chemicals Ltd. price can reach defined target. .

Gujarat Narmada Valley Fertilizers & Chemicals Ltd., incorporated in the year 1976, is a Small Cap company (having a market cap of Rs 7230.08 Crore) operating in Fertilisers sector.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd. key Products/Revenue Segments include Chemicals, Fertilizers and Others for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 2153.63 Crore, up 49.84 % from last quarter Total Income of Rs 1437.25 Crore and up 75.59 % from last year same quarter Total Income of Rs 1226.54 Crore. Company reported net profit after tax of Rs 282.30 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from trendline resistance and narrow consolidation phase suggesting bullishness. Further, volumes have been good leading up to the breakout. Technical indicators are also favoring the same.

Promoter/FII Holdings
Promoters held 41.18 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.27 per cent, DIIs 6.6 per cent.