Multibagger Stocks: Among the country’s largest companies that produce fluorine chemicals, Navin Fluorine International is considered one. However, its shares have weakened in the current strong market sentiment. The recent quarter’s weakness has affected its stock performance. Nevertheless, over the long term, it has turned investors into millionaires with just a small investment in the last 10 years. Despite the weak results in the recent quarter, brokerage firms have maintained a positive rating for the stock. In the June quarter, the company’s revenue declined by over 9% to INR 350.71 crores, and the net profit dropped by more than 20% to INR 63.01 crores. As of today, the shares closed at INR 4494.10 (Navin Fluorine Share Price) with a decline of 0.24% on the BSE.
An investment of INR 76,000 has turned into one crore
Navin Fluorine’s shares were available at INR 33.88 on August 8, 2013. Now, after nearly 10 years, on August 4, 2023, the share price stands at INR 4494.10, meaning an investment of around INR 76,000 has made investors millionaires. Looking at the stock movement in the last year, it was at INR 3766.45 on January 27, 2023. Within four months, it surged by approximately 31% and reached a record high of INR 4922 on May 15, 2023. However, the rapid growth in the share price slowed down, and currently, it is trading at a discount of around 9% from that peak.
What’s Next for Navin Fluorine?
According to brokerage firm HDFC Securities, Navin Fluorine’s earnings look promising due to its strong long-term contracts. The company’s focus on high-margin and high-value businesses is increasing. It is also expanding its capacity, and its R&D infrastructure is robust. Despite the weak results in the recent June quarter, brokerage firms have maintained a positive rating for the stock. The brokerage firm has set a target price of INR 5368 for investing in the company.
Disclaimer: The advice or views provided on FinanciallyPro.in are the opinions of experts/brokerage firms and not the responsibility of the website or its management. Users are advised to seek advice from certified experts before making any investment decisions.
