Sell Pidilite Industries, target price Rs 1707: ICICI Direct

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Sell Pidilite Industries, target price Rs 1707:  ICICI Direct


ICICI Direct has sell call on Pidilite Industries with a target price of Rs 1707. The current market price of is Rs 1720.

Pidilite Industries Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 86940.95 Crore) operating in Diversified sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2319.40 Crore, up 21.94 % from last quarter Total Income of Rs 1902.02 Crore and up 17.95 % from last year same quarter Total Income of Rs 1966.42 Crore. Company reported net profit after tax of Rs 444.85 Crore in latest quarter.

Investment Rationale
Price close below 34 day EMA & trend line support breached


Promoter/FII Holdings
Promoters held 70.2 per cent stake in the company as of Dec 30, 2020, while FIIs held 11.4 per cent, DIIs 8.2 per cent and public and other 10.2 per cent.





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