Buy Berger Paints (India), target price Rs 915: Yes Securities

Yes Securities has buy call on Berger Paints (India) with a target price of Rs 915. The current market price of Berger Paints (India) Ltd. is Rs 863.65. 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 84012.16 Crore) operating in Building Materials sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2041.09 Crore, down -4.34 % from last quarter Total Income of Rs 2133.79 Crore and up 48.82 % from last year same quarter Total Income of Rs 1371.49 Crore. Company reported net profit after tax of Rs 209.68 Crore in latest quarter.


Investment Rationale
The stock has resumed uptrend after breaking out of a narrow consolidation phase and trendline resistance on good volumes. Technical indicator RSI turning upwards from the 60-level suggests extended upside in the stock.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2020, while FIIs held 11.7 per cent, DIIs 3 per cent and public and others 10.3 per cent.