Buy Asian Paints, target price Rs 2550: Kotak Securities

0
3
Buy Asian Paints, target price Rs 2550:  Kotak Securities


Kotak Securities has buy call on with a target price of Rs 2550. The current market price of Asian Paints Ltd. is Rs 2459.75.

Asian Paints Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 235598.16 Crore) operating in Building Materials sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 6886.39 Crore, up 26.75 % from last quarter Total Income of Rs 5432.86 Crore and up 25.43 % from last year same quarter Total Income of Rs 5490.11 Crore. Company reported net profit after tax of Rs 1240.10 Crore in latest quarter.

Investment Rationale
A reversal from multiple support near the important retracement point with incremental volume activity is evident.


Promoter/FII Holdings
Promoters held 52.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 19.8 per cent, DIIs 8.2 per cent and public and others 19.2 per cent





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here