Buy Hikal, target price Rs 324: Nagaraj Shetti
Hikal with a target price of Rs 324. The current market price of Hikal is Rs 310.95.
Nagaraj Shetti recommended to keep stop loss at Rs 298.
Hikal, incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 3811.23 Crore) operating in Pharmaceuticals sector.
Hikal key Products/Revenue Segments include Pharmaceuticals, Sale of services, Other Operating Revenue, Scrap and Export Incentives for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 388.99 Crore, down -28.71 % from last quarter Total Income of Rs 545.67 Crore and up 1.81 % from last year same quarter Total Income of Rs 382.06 Crore. Company has reported net profit after tax of Rs 6.92 Crore in latest quarter.
Investment Rationale
The stock price has been moving up in the last few sessions.
Positive chart pattern like higher tops and bottoms observed on the daily chart. The stock price currently is in an attempt of breaking above the hurdle of Rs 320 levels.
Promoter/FII Holdings Promoters held 68.85 per cent stake in the company as of 30-Jun-2023, while FIIs owned 4.57 per cent, DIIs 2.78 per cent.
