Stock to Buy: Analyst Sandeep Jain recommends Bhagiradha Chemicals for this target price; know why this share is poised for an upside
On the yearly basis, the PAT stood at 36 crore for the last year. Thus we can see that the company is having good consolidation, Jain told Zee Business.
Stock to Buy: Market expert Sandeep Jain today recommended Bhagiradha Chemicals & Industries Limited shares for good gains. The stock was recommended in a popular TV show ‘Jain Sahab Ke Gems’ in chat with Zee Business Managing Editor Anil Singhvi.
Jain said that the company is promoted by technocrats with a very strong back ground and the company manufactures high quality pesticides. The fundamentals of the company are very strong and the sector is also very good, the Tradeswift Director added.
Bhagiradha Chemicals has been giving good results, Jain said. The return on capital employed is around 24-25 per cent while the return on equity is 21 per cent, and the growth CAGR over the last five years is around 105 per cent, Jain said. Over the 7-year period it is 46 per cent, he further added.
This reflects a continuous growth given by the company.
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Apart from this, the Profit after Tax or PAT for the company was at Rs 7 crore in March quarter 2021 while in March 2022 quarter its stood at Rs 11 crore, crossing double digit mark for the first time.
On the yearly basis, the PAT stood at 36 crore for the last year. Thus we can see that the company is having good consolidation, Jain told Zee Business.
He said that it doesn’t appear that there is a big downside if one looks at the technical charts. He said that his recommendation is a buy with a small target price.
The stock was trading at Rs 925 on the NSE. He puts the target price at Rs 1050.
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