Joindre Capital is bullish on Gujarat Narmada Valley has recommended buy rating on the stock with a target price of Rs 600 in its research report dated 24 November 2017.
Joindre Capital' research report on Gujarat Narmada Valley
GNFC is state PSU engaged in manufacturing of fertilizers and chemicals. The company also has a small business in the Information technology that supports various government departments. The company reports revenues in 3 of below segments: Fertilizer: This includes manufacturing of Urea and imported Urea. Chemicals: This includes Methanol, Formic Acid, Nitric Acid, Ethyl Acetate and TDI among others. Others Segment: This includes Information Technology business (n-Code)
Outlook
Hence we believe that the GNFC stock should be purchased at the current price for a price target of around Rs 600 over the next 12 to 18 months based on 12x FY20E.
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