Buy Navin Fluorine International, target price Rs 4835: ICICI Direct

ICICI Direct has buy call on Navin Fluorine International with a target price of Rs 4835. The current market price of Navin Fluorine International is Rs 4249.05. Time period given by analyst is 3 months when Navin Fluorine International Ltd. price can reach defined target.

Navin Fluorine International Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 21085.89 Crore) operating in Chemicals sector.

Navin Fluorine International Ltd. key Products/Revenue Segments include Chemicals, Sale of services, Export Incentives and Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 386.43 Crore, up 10.59 % from last quarter Total Income of Rs 349.43 Crore and up 21.14 % from last year same quarter Total Income of Rs 319.00 Crore. Company reported net profit after tax of Rs 68.79 Crore in latest quarter.


Investment Rationale
The brokerage expects the stock to extend the current up move and head towards Rs 4835 levels in the coming month as it is the 161.8% external retracement of the recent breather (Rs 4329-3500).

Promoter/FII Holdings
Promoters held 30.2 per cent stake in the company as of 30-Sep-2021, while FIIs owned 28.5 per cent, DIIs 13.1 per cent.