Buy Small Cap Chemicals Stock For 23.92% Likely Return, TP Rs 2129: HDFC Securities

Brokerage firm HDFC Securities has assigned buy call to small cap chemicals sector stock Neogen Chemicals with target price of Rs 2129 per share. Current market price of Neogen Chemicals shares on BSE is Rs 1718.10 per share. If you buy Neogen Chemicals shares now, you can fetch potential return of 23.92%, as suggested by the analyst. Neogen Chemicals shares gained 39.56% year-to-date on BSE. Check details below:

Neogen Chemicals Stock Outlook & Return: Current market price of Neogen Chemicals stock on BSE is Rs 1718.10 per share at the time of writing the story. Its 52-week high price is Rs 1851.05 per share and 52-week low price is Rs 1127.70 per share, respectively. Neogen Chemicals has a market capitalisation of Rs 4273.73 crore.Neogen Chemicals shares declined 2.36% in last 2-weeks, gained 15.61% in last 1-year, soared 37.54% in last 2-years, and jumped 170% in last 3-years.

Neogen Chemicals Financials: The company for the quarter ended June 30, 2023 announced a decline of 12% YoY in its net profit to Rs 9.75 crore. The company said high finance costs and depreciation due to expansion initiatives as factors behind dip in profit. The company's revenue from operations soared 11.5% to Rs 164.88 crore as compared to Rs 148 crore in last fiscal.

Neogen Chemicals About: Neogen Chemicals Ltd. is a over 30-year old company specialising in Bromine based compounds, Grignard Reagents and Inorganic Lithium Salts. It was founded by Haridas T. Kanani, a chemical engineer from Indian Institute of Technology (IIT), Mumbai.

Disclaimer:

The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.