Buy Gujarat Narmada Valley; target of Rs 600: Joindre Capital
Joindre Capital’ research report on Gujarat Narmada Valley
GNFC is state PSU engaged in manufacturing of fertilizers and chemicals. The company also has a small business in the Information technology that supports various government departments. The company reports revenues in 3 of below segments: Fertilizer: This includes manufacturing of Urea and imported Urea. Chemicals: This includes Methanol, Formic Acid, Nitric Acid, Ethyl Acetate and TDI among others. Others Segment: This includes Information Technology business (n-Code)
Hence we believe that the GNFC stock should be purchased at the current price for a price target of around Rs 600 over the next 12 to 18 months based on 12x FY20E.
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