Buy Uflex, target price Rs 500: Yes Securities

Yes Securities has buy call on with a target price of Rs 500. The current market price of Uflex is Rs 437.85 .

Uflex Ltd., incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 3156.36 Crore) operating in Packaging sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2111.09 Crore, down -5.52 % from last quarter Total Income of Rs 2234.46 Crore and up 17.20 % from last year same quarter Total Income of Rs 1801.33 Crore. Company reported net profit after tax of Rs 160.19 Crore in latest quarter.

Investment Rationale
The stock has broken out from a trendline resistance on good volumes, triggering resumption of the uptrend. Further, the RSI has turned upwards after forming a positive reversal, confirming bull trend dominant at the moment. Other technical indicator +DI crossing over -DI affirms strength in the stock.