Buy Cholamandalam Finance, target price Rs 1526: Axis Securities

Axis Securities has buy call on Cholamandalam Investment & Finance Company with a target price of Rs 1526.0. The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 1277.4.

Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 105494.39 Crore) operating in NBFC sector.

Cholamandalam Investment & Finance Company Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Sale of services and Income From Sale Of Share & Securities for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 4695.16 Crore, up 12.57 % from last quarter Total Income of Rs 4170.79 Crore and up 53.09 % from last year same quarter Total Income of Rs 3067.02 Crore. Company reported net profit after tax of Rs 776.21 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.43 per cent stake in the company as of 30-Sep-2023, while FIIs owned 21.51 per cent, DIIs 20.0 per cent.