Buy Century Textiles & Industries, target price Rs 960: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Century Textiles & Industries with a target price of Rs 960.
The current market price of Century Textiles & Industries Ltd. is Rs 912.75.
Time period given by analyst is Intra Day when Century Textiles & Industries Ltd. price can reach defined target.

Century Textiles & Industries Ltd., incorporated in the year 1897, is a Mid Cap company (having a market cap of Rs 10205.08 Crore) operating in Cement sector.


Century Textiles & Industries Ltd. key Products/Revenue Segments include Textiles, Lease Rentals, Other Operating Revenue, Export Incentives, Income From Real Estate Development, Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1034.27 Crore, up 21.40 % from last quarter Total Income of Rs 851.97 Crore and up 66.67 % from last year same quarter Total Income of Rs 620.54 Crore. Company reported net profit after tax of Rs 44.12 Crore in latest quarter.

Investment RationaleHigher highs - higher lows over four sessions with increased volumes and a consolidation breakout

Promoter/FII Holdings
Promoters held 50.21 per cent stake in the company as of 30-Sep-2021, while FIIs owned 8.87 per cent, DIIs 14.64 per cent.