Buy Birla Corporation, target price Rs 1665: Axis Securities

Axis Securities has buy call on Birla Corporation with a target price of Rs 1665. The current market price of Birla Corporation Ltd. is Rs 1524.55.

Birla Corporation Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 11609.71 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-2022.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 2328.31 Crore, up .65 % from last quarter Total Income of Rs 2313.23 Crore and up 15.04 % from last year same quarter Total Income of Rs 2024.00 Crore. Company reported net profit after tax of Rs 109.14 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of 31-Dec-2023, while FIIs owned 6.45 per cent, DIIs 16.13 per cent.