Buy Cholamandalam Investment & Finance Company, target price Rs 700: Edelweiss

Edelweiss Financial Services has buy call on Cholamandalam Investment & Finance Company Ltd. with a target price of Rs 700.0. The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 657.3 Time period given by analyst is Intra Day when Cholamandalam Investment & Finance Company Ltd. price can reach defined target.

Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 53978.87 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-2021.



Financials
For the quarter ended 31-12-2021, the company has reported a Consolidated Total Income of Rs 2557.46 Crore, up 2.43 % from last quarter Total Income of Rs 2496.71 Crore and up 1.47 % from last year same quarter Total Income of Rs 2520.48 Crore. Company has reported net profit after tax of Rs 528.04 Crore in latest quarter.

Investment Rationale
Fresh all time high by giving a breakout from a Flag and Pole pattern on the daily charts.

Promoter/FII Holdings
Promoters held 51.55 per cent stake in the company as of 31-Dec-2021, while FIIs owned 20.98 per cent, DIIs 19.46 per cent.