Buy CESC, target Rs 1055: Gaurav Bissa

Gaurav Bissa of LKP Securities has a buy call on CESC Ltd. with a target price of Rs 1055. The current market price of CESC Ltd. is Rs 1014.1. Time period given by the analyst is Intra Day when CESC Ltd. price can reach defined target. Gaurav Bissa recommended to keep stoploss at Rs 990. CESC Ltd., incorporated in 1978, is a midcap company with a market cap of Rs 13442.61 crore. CESC Ltd. key Products/Revenue Segments include Electricity which contributed Rs 6979.69 Crore to Sales Value (96.67 % of Total Sales) and Other Operating Revenue which contributed Rs 240.38 Crore to Sales Value (3.32 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 2159.00 Crore, up 20.28 % from last quarter Sales of Rs 1795.00 Crore and down -1.14 % from last year same quarter Sales of Rs 2184.00 Crore Company has reported net profit after tax of Rs 182.00 Crore in latest quarter. The company’s top management includes Mr.Aniruddha Basu, Mr.Brij Mohan Kaitan, Mr.Chandra Kumar Dhanuka, Mr.Kalaikuruchi Jairaj, Mr.Pradip Kumar Kaitan, Mr.Pratip Chaudhuri, Mr.Sanjiv Goenka, Ms.Rekha Sethi. Company has LoveLock & Lewes as its auditoRs As on 30-06-2018, the company has a total of 132,557,043 shares outstanding.