Buy Birla Corporation, target price Rs 905: Motilal Oswal

Motilal Oswal has given a buy rating to Birla Corporation with a target price of Rs 905. The share price moved down by 1.54 per cent from its previous close of Rs 726.20. The stock’s last traded price is Rs 715.

Birla Corporation Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 5633.33 Crore) operating in Cement sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1654.25 Crore, up 35.38 % from last quarter Sales of Rs 1221.97 Crore and up 1.68 % from last year same quarter Sales of Rs 1626.86 Crore Company reported net profit after tax of Rs 166.62 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 3.4 per cent, DIIs 15.2 per cent and public and others 18.6 per cent.