Buy Berger Paints (India), target price Rs 724: Yes Securities

Yes Securities has buy call on Berger Paints (India) with a target price of Rs 724. The current market price of Berger Paints (India) is Rs 694.5. Time period given by analyst is Intra Day when Berger Paints (India) Ltd. price can reach defined target.

Berger Paints (India) Ltd., incorporated in the year 1923, is a Large Cap company (having a market cap of Rs 67550.69 Crore) operating in Building Materials sector.

Berger Paints (India) Ltd. key Products/Revenue Segments include Paints, Enamels, Varnishes, Contract Revenue, Other Operating Revenue and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2566.22 Crore, up 14.67 % from last quarter Total Income of Rs 2238.00 Crore and up 20.27 % from last year same quarter Total Income of Rs 2133.79 Crore. Company reported net profit after tax of Rs 253.49 Crore in latest quarter.

Investment Rationale
Stock has resumed its uptrend after taking support at the 50% Fibonacci retracement level and forming a temporary bottom there. Further, a sustained trade above Rs 705 will take it higher to levels of Rs 724. RSI too suggests an upmove.

Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 11.3 per cent, DIIs 3.57 per cent.