Buy Century Textiles & Industries, target Rs 1,050: Anand James, Geojit Financial Services

Anand James of Geojit Financial Services has a buy call on Century Textiles & Industries with a target price of Rs 1,050.

The current market price of Century Textiles & Industries is Rs 976.45.

Time period given by the analyst is two weeks when Century Textiles & Industries price can reach the defined target.


The analyst recommended keeping a stop loss at Rs 930.

"The steep fall of the stock since January 2018 has been slowing since May onwards, and a rounding bottom pattern is in the formation. Successful penetration of neckline adds conviction, and should ideally see a vertical rise from here on, unless a pull below 950 is not seen," James said.
Century Textiles & Industries, incorporated in the year 1897, is a Mid Cap company (having a market cap of Rs 10,919.93 crore) operating in Miscellaneous sector.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 2,069.61 crore, down 0.85 per cent from the last quarter Sales of Rs 2,087.28 crore and up 0.98 per cent from the last year same quarter Sales of Rs 2,049.47 crore.

The company has reported net profit after tax of Rs 162.66 Crore in the latest quarter.