New Delhi: ICICI Securities recommended stock market investors to buy Chambal Fertilisers share in the range of Rs 510-520. Backing the stock of the company of the KK Birla Group, the brokerage firm said the counter has the potential to achieve its target price in 14 days. The firm released its stock recommended on July 1, 2024.
Stock to Buy: Chambal Fertilisers
Giving a Buy rating on Chambal Fertilisers share price, the brokerage firm said the shareholders should set the target price at Rs 556 and the Stop Loss positioned at Rs 498. Chambal Fertilisers stock was trading at Rs 512.60 at 9:25 am on July 3, 2024.
Chambal Fertilizers and Chemicals Limited reported consolidated financial results for the period ending March 31, 2024 in May. The Urea making company registered a net profit of Rs 96.78 crore in the last quarter of 2023-24 as compared to Rs 459.41 crore in the third quarter of the previous financial year.
Chambal Fertilizers recorded a total net income of Rs 2,705.98 crore during the period ended March 31, 2024 as compared to Rs 4,444.03 crore during the period ended December 31, 2203.
he Board of Directors of the Company at its meeting held on May 7, 2024, recommended a final
dividend of Rs. 3.00 (i.e. 30%) per equity share of Rs. 10 each of the Company. The company posted a total net income of Rs 3,639.98 crore during the period ended 31st March 2024.
In 2023-24 financial year, Chambal Fertilizers and Chemicals Limited posted a total income iof Rs 18215.51 crore as compared to Rs 27,940.57 crore in 2022-23.
Chambal Fertilisers and Chemicals Limited is one of the leading producers of Urea and accounts for nearly 13 per cent of the total Urea produced in the country. The company has three plants at Gadepan in Kota district of Rajasthan. The three units have an annual production capacity of about 3.4 million MT of Urea. The company claims that its plants use state-of-the-art technology from Denmark, Italy, United States and Japan.
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Chambal Fertilisers share price is expected to gain in 14 days and reach the level of Rs 556 by July 14, 2024, ICICI Securities recommended. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
