Purchase Nitin Spinners, target rate Rs 295: ICICI Direct

Synopsis The brokerage anticipates the share cost to head towards Rs 300, which is 80% retracement of February– June 2022 correction over the next couple of months.AgenciesNitin Spinners, included in the year 1992, is a Small Cap business (having a market cap of Rs 1482.80 Crore) operating in Textiles sector.ICICI Direct has purchase contact Nitin Spinners with a target cost of Rs 295. The existing market value of Nitin Spinners is Rs 263.05. Period offered by expert is 3 months when Nitin Spinners cost can reach specified target. ICICI Direct suggested to keep stop loss at Rs 240. Nitin Spinners, integrated in the year 1992, is a Small Cap business (having a market cap of Rs 1482.80 Crore) operating in Textiles sector. Nitin Spinners crucial Products/Revenue Segments consist of Yarn, Fabric, Others, Other Operating Revenue, Sale of services for the year ending 31-Mar-2022. Financials For the quarter ended 31-03-2023, the business has actually reported a Standalone Total Income of Rs 656.16 Crore, up 22.08 % from last quarter Total Income of Rs 537.49 Crore and down -14.74 % from in 2015 very same quarter Total Income of Rs 769.58 Crore. Business has actually reported net revenue after tax of Rs 38.54 Crore in newest quarter. The business’s leading management consists of Mr.R L Nolkha, Mr.Dinesh Nolkha, Mr.Nitin Nolakha, Mr.Rohit Swadheen Mehta, Dr.R Chattopadhyay, Mrs.Aditi Mehta. Business has Kalani & Co. as its auditors. As on 31-03-2023, the business has an overall of 6 Crore shares exceptional. Financial Investment Rationale Struc
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