Buy Birla Corporation, target price Rs 1634: HDFC Securities

HDFC Securities has buy call on Birla Corporation with a target price of Rs 1634. The current market price of Birla Corporation Ltd. is Rs 1394.7.

Time period given by analyst is one year when Birla Corporation Ltd. price can reach defined target.

Birla Corporation Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 10977.50 Crore) operating in Cement sector.


Birla Corporation Ltd. key Products/Revenue Segments include Cement, Jute Goods, Royalty Income, Other Operating Revenue, Export Incentives and Others for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1711.10 Crore, down -2.69 % from last quarter Total Income of Rs 1758.41 Crore and up 2.13 % from last year same quarter Total Income of Rs 1675.41 Crore. Company reported net profit after tax of Rs 85.55 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of 30-Sep-2021, while FIIs owned 3.68 per cent, DIIs 15.35 per cent.