NOCIL hits target of 222. Hold for a revised target of 275. 3 months.
Stock was recommended to hold at 180 after flat numbers.
Stock is now trading at 25x. We are revising our target to 30x annualized recent quarterly EPS.
upgrading PE for fresh target is riskier while market corrects, so fresh investment should be avoided.
Add on dips towards 200-210. Target 275. SL 185. 3 months.
Anticipating good quarterly results in coming months.