Anand Rathi has given Buy recommendation for NCL Industries with a target price of Rs. 240 in its research report issued on Aug 24, 2022

Anand Rathi’s research report on NCL Industries

Weak demand and higher costs hit NCL’s cement division performance, but its Boards division performance was boosted by the low base. The JV for the modular container was terminated and the door division continues to report losses. While the Vizag GU expansion continues to be delayed, the modernisation exercise at Mattampally would aid volume growth.

Outlook

We retain our Buy rating, with a lower TP of Rs240 (earlier Rs242).

More Info

At 12:15 hrs NCL Industries was quoting at Rs 184.60, up Rs 4.25, or 2.36 percent.

It has touched an intraday high of Rs 185.90 and an intraday low of Rs 182.10.

It was trading with volumes of 4,147 shares, compared to its thirty day average of 10,064 shares, a decrease of -58.79 percent.

In the previous trading session, the share closed up 0.95 percent or Rs 1.70 at Rs 180.35.

The share touched its 52-week high Rs 270.00 and 52-week low Rs 155.90 on 11 October, 2021 and 26 May, 2022, respectively.

Currently, it is trading 31.63 percent below its 52-week high and 18.41 percent above its 52-week low.

Market capitalisation stands at Rs 835.00 crore.

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