Buy Alembic, target price Rs 93: Yes Securities

Yes Securities has buy call on Alembic with a target price of Rs 93. The current market price of Alembic Ltd. is Rs 83.3.
Time period given by analyst is Intra Day when Alembic Ltd. price can reach defined target.

Alembic Ltd., incorporated in the year 1907, is a Small Cap company (having a market cap of Rs 1987.49 Crore) operating in Diversified sector.


Alembic Ltd. key Products/Revenue Segments include Rent, Income From Real Estate Development, Job Work, API, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 21.06 Crore, down -79.14 % from last quarter Total Income of Rs 100.92 Crore and up 20.35 % from last year same quarter Total Income of Rs 17.50 Crore. Company reported net profit after tax of Rs 4.12 Crore in latest quarter.


Investment Rationale
After losing 34% from the prior month's high, the stock has reclaimed levels of 80. Sustenance is likely to attract short term reversal till 93 zone.

Promoter/FII Holdings
Promoters held 70.88 per cent stake in the company as of 31-Dec-2021, while FIIs owned 1.19 per cent, DIIs 5.16 per cent.