Buy Cholamandalam Investment, target price Rs 640: IIFL

IIFL has buy call on Cholamandalam Investment with a target price of Rs 640. The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 623.5.

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 51170.42 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 30-06-2021, the company reported a Consolidated Total Income of Rs 2481.91 Crore, up .09 % from last quarter Total Income of Rs 2479.80 Crore and up 16.76 % from last year same quarter Total Income of Rs 2125.61 Crore. Company reported net profit after tax of Rs 329.12 Crore in latest quarter.

Investment Rationale
Stock has given a cup & handle breakout on the daily chart

Promoter/FII Holdings
Promoters held 51.57 per cent stake in the company as of 30-Sep-2021, while FIIs owned 21.36 per cent, DIIs 19.06 per cent.