Buy Cholamandalam Investment & Finance Company, target price Rs 800: Prabhudas Lilladher
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 3067.02 Crore, up 9.70 % from last quarter's total Income of Rs 2795.91 Crore and up 22.84 % from last year's same quarter Total Income of Rs 2496.71 Crore.
By ETMarkets.com | Updated:
iStock
Prabhudas Lilladher has buy call on Cholamandalam Investment & Finance Company with a target price of Rs 800. The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 719.0 Prabhudas Lilladher recommended to keep stoploss at Rs 690.
Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 59184.75 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-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 3067.02 Crore, up 9.70 % from last quarter's total Income of Rs 2795.91 Crore and up 22.84 % from last year's same quarter Total Income of Rs 2496.71 Crore. Company has reported net profit after tax of Rs 566.28 Crore in latest quarter.
The company’s top management includes Mr.Vellayan Subbiah, Mr.Ravindra Kumar Kundu, Mr.M A M Arunachalam, Mr.Ashok Kumar Barat, Mr.N Ramesh Rajan, Mr.Rohan Verma, Ms.Bhama Krishnamurthy, Mr.Anand Kumar, Mr.Bharath Vasudevan. Company has S R Batliboi & Associates LLP as its auditors. As on 30-06-2022, the company has a total of 82 Crore shares outstanding.
The stock has made a higher bottom formation after giving a decent correction from the peak of 817 levels and the trend has made a reversal to signal a positive bias. The RSI indicator also has indicated a buy signal by reversing its trend. The brokerage recommends buying the counter for an upside target of Rs 800 keeping a stop loss of Rs 690.
Promoter/FII Holdings
Promoters held 51.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.22 per cent, DIIs 20.15 per cent.
Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 59184.75 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-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 3067.02 Crore, up 9.70 % from last quarter's total Income of Rs 2795.91 Crore and up 22.84 % from last year's same quarter Total Income of Rs 2496.71 Crore. Company has reported net profit after tax of Rs 566.28 Crore in latest quarter.
The company’s top management includes Mr.Vellayan Subbiah, Mr.Ravindra Kumar Kundu, Mr.M A M Arunachalam, Mr.Ashok Kumar Barat, Mr.N Ramesh Rajan, Mr.Rohan Verma, Ms.Bhama Krishnamurthy, Mr.Anand Kumar, Mr.Bharath Vasudevan. Company has S R Batliboi & Associates LLP as its auditors. As on 30-06-2022, the company has a total of 82 Crore shares outstanding.
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Investment RationaleThe stock has made a higher bottom formation after giving a decent correction from the peak of 817 levels and the trend has made a reversal to signal a positive bias. The RSI indicator also has indicated a buy signal by reversing its trend. The brokerage recommends buying the counter for an upside target of Rs 800 keeping a stop loss of Rs 690.
Promoter/FII Holdings
Promoters held 51.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.22 per cent, DIIs 20.15 per cent.
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