HomeNewsBusinessStocksBuy NCL Industries; target of Rs 242: Anand Rathi
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Buy NCL Industries; target of Rs 242: Anand Rathi

Anand Rathi is bullish on NCL Industries has recommended buy rating on the stock with a target price of Rs 242 in its research report dated June 03, 2022.

Broker Research
June 06, 2022 / 11:29 IST
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"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.
"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

Anand Rathi's research report on NCL Industries

Despite volumes dipping across divisions (except energy), NCL’s Q4 revenue was the highest, given a fillip by healthy realisation growth. However, the inflationary situation pummelled operating performance. A pending environmental clearance continues to delay the expansion of the Vishakhapatnam GU. In the prevailing high-cost context, passing on costs will be key to watch.

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Outlook

We retain our Buy rating, with a lower TP of Rs242 (earlier Rs264).

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