Buy Bharat Wire Ropes, target price Rs 136: HDFC Securities

HDFC Securities has buy call on Bharat Wire Ropes with a target price of Rs 136. The current market price of Bharat Wire Ropes is Rs 126.05.

Bharat Wire Ropes Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 807.81 Crore) operating in Metals - Ferrous sector.

Bharat Wire Ropes Ltd. key Products/Revenue Segments include Wire Ropes & Strands, Export Incentives, Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 132.90 Crore, down -1.39 % from last quarter Total Income of Rs 134.77 Crore and up 69.63 % from last year same quarter Total Income of Rs 78.35 Crore. Company reported net profit after tax of Rs 12.04 Crore in latest quarter.

Investment Rationale
The pattern of volume and RSI indicates more upside for the stock price in the near term

Promoter/FII Holdings
Promoters held 36.96 per cent stake in the company as of 30-Jun-2022, while FIIs owned 0.03 per cent, DIIs 9.76 per cent.