Buy Amber Enterprises India, target price Rs 4000: HDFC Securities

HDFC Securities has buy call on Amber Enterprises India with a target price of Rs 4000. The current market price of Amber Enterprises India is Rs 3610.9. Time period given by analyst is Intra Day when Amber Enterprises India Ltd. price can reach defined target.

Amber Enterprises India Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 12200.50 Crore) operating in Consumer Durables sector.

Amber Enterprises India Ltd. key Products/Revenue Segments include Air Conditioners, Scrap, Job Work and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 982.91 Crore, up 65.02 % from last quarter Total Income of Rs 595.62 Crore and up 27.04 % from last year same quarter Total Income of Rs 773.68 Crore. Company reported net profit after tax of Rs 32.94 Crore in latest quarter.

Investment Rationale
Attempting to stage upside breakout at Rs 3,700 levels. Weekly 10 and 10 period EMA are offering support

Promoter/FII Holdings
Promoters held 40.27 per cent stake in the company as of 31-Mar-2022, while FIIs owned 28.11 per cent, DIIs 9.18 per cent.