Buy Grindwell Norton, target price Rs 990: ICICI Securities

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Buy Grindwell Norton, target price Rs 990:  ICICI Securities


has buy call on with a target price of Rs 990. The current market price of Grindwell Norton Ltd. is Rs 823.5.

Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 9090.11 Crore) operating in Industrial Consumables sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 462.61 Crore, up 3.58 % from last quarter Total Income of Rs 446.64 Crore and up 10.40 % from last year same quarter Total Income of Rs 419.03 Crore. Company reported net profit after tax of Rs 65.48 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 58.32 per cent stake in the company as of March 31, 2020, while FIIs held 3.99 per cent, DIIs 16.58 per cent and public and others 21.11 per cent.





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