Buy Rashtriya Chemicals & Fertilizers, target price Rs 100: Yes Securities

Yes Securities has buy call on Rashtriya Chemicals & Fertilizers Ltd. with a target price of Rs 100. The current market price of Rashtriya Chemicals & Fertilizers is Rs 85.65.

Time period given by analyst is Intra Day when Rashtriya Chemicals & Fertilizers Ltd. price can reach defined target.
Rashtriya Chemicals & Fertilizers Ltd., incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 4722.45 Crore) operating in Fertilisers sector.

Rashtriya Chemicals & Fertilizers Ltd. key Products/Revenue Segments include Other Operating Revenue, Urea, Suphala 15:15:15, Di Ammonium Phosphate (DAP), Others, Ammonium Nitrate Melt, Muriate Of Potash (Trading), Ammonia, NPK ( Sikka ), Methylamines, Scrap for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2417.26 Crore, up 3.20 % from last quarter Total Income of Rs 2342.24 Crore and up 46.53 % from last year same quarter Total Income of Rs 1649.64 Crore. Company reported net profit after tax of Rs 212.96 Crore in latest quarter.

Investment Rationale
The stock has broken out of a bullish pennant pattern on good volumes, triggering a resumption of the uptrend. Technical indicator RSI has turned upwards after taking support at the 40 level, suggesting strength in the stock.