Buy Linde India, target price Rs 3785 : Axis Securities

Axis Securities has buy call on Linde India with a target price of Rs 3785.The current market price of Linde India Ltd. is Rs 3517.75. Time period given by analyst when Linde India price can reach defined target is 3-4 weeks. Axis Securities recommended to keep stop loss at Rs 3220.

Linde India, incorporated in the year 1935, is a Mid Cap company (having a market cap of Rs 29996.17 Crore) operating in Chemicals sector.

Linde India key Products/Revenue Segments include Air Separation Unit Gases, Vessels Plants, Other Cylinder Gases, Others, Other Operating Revenue for the year ending 31-Dec-2021.

Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 720.73 Crore, up 20.39 % from last quarter Total Income of Rs 598.65 Crore and up 39.15 % from last year same quarter Total Income of Rs 517.94 Crore. Company has reported net profit after tax of Rs 88.05 Crore in latest quarter.

The company’s top management includes Mr.Robert J Hughes, Mr.Abhijit Banerjee, Mr.Arun Balakrishnan, Mr.Jyotin Mehta, Ms.Shalini Sarin, Mr.Mannu Sanganeria, Mr.Robert J Hughes, Mr.Abhijit Banerjee, Mr.Arun Balakrishnan, Mr.Jyotin Mehta, Ms.Shalini Sarin, Mr.Robert J Hughes, Mr.Mannu Sanganeria, Mr.Abhijit Banerjee, Mr.Arun Balakrishnan, Mr.Jyotin Mehta, Ms.Shalini Sarin, Mr.Mannu Sanganeria, Mr.Robert J Hughes, Mr.Abhijit Banerjee, Mr.Arun Balakrishnan, Mr.Jyotin Mehta, Ms.Shalini Sarin, Mr.Mannu Sanganeria. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-06-2022, the company has a total of 9 Crore shares outstanding.

Investment Rationale
The stock on the weekly timeframe has decisively broken out above the “Symmetrical Triangle” pattern. The break out for the same was placed above 3370. The daily “Bollinger band” generated a buy signal as stock closed above the upper Bollinger Band. The stock is well placed above 20, 50, 100and 200 key averages indicating positive momentum.

Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.65 per cent, DIIs 7.98 per cent.