Buy CESC, target price Rs 1011: HDFC Securities

HDFC Securities has buy call on CESC with a target price of Rs 1011. The current market price of CESC Ltd. is Rs 781.65 Time period given by analyst is one year when CESC price can reach defined target.

CESC Ltd., incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 10366.62 Crore) operating in Power sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3343.00 Crore, up 11.32 % from last quarter Total Income of Rs 3003.00 Crore and up 35.62 % from last year same quarter Total Income of Rs 2465.00 Crore. Company reported net profit after tax of Rs 280.00 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 49.9 per cent stake in the company as of March 31, 2021, while FIIs held 0 per cent, DIIs 38.6 per cent and public and others 11.5 per cent.