Buy Astra Microwave Products, target price Rs 351: Axis Securities

Axis Securities has buy call on Astra Microwave Products with a target price of Rs 351. The current market price of Astra Microwave Products is Rs 314.8. Time period given by analyst is 4 weeks when Astra Microwave Products Ltd. price can reach defined target.

Astra Microwave Products Ltd., incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 2726.10 Crore) operating in Defence sector.

Astra Microwave Products Ltd. key Products/Revenue Segments include Microwave Components, Sale of services and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 162.89 Crore, down -32.49 % from last quarter Total Income of Rs 241.28 Crore and up 25.53 % from last year same quarter Total Income of Rs 129.75 Crore. Company reported net profit after tax of Rs 9.09 Crore in latest quarter.

Investment Rationale
The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.

Promoter/FII Holdings
Promoters held 8.46 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.17 per cent, DIIs 0.16 per cent.