Buy Devyani International, target price Rs 210: ICICI Direct

ICICI Direct has buy call on Devyani International with a target price of Rs 210. The current market price of Devyani International is Rs 198.55. Time period given by analyst is 7 days when Devyani International Ltd. price can reach defined target.

Devyani International Ltd., incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 23938.11 Crore) operating in Tourism & Hospitality sector.

Devyani International Ltd. key Products/Revenue Segments include Food Products, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 713.72 Crore, up 20.33 % from last quarter Total Income of Rs 593.14 Crore and up 99.69 % from last year same quarter Total Income of Rs 357.42 Crore. Company reported net profit after tax of Rs 74.76 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to maintain positive bias and head towards Rs 210 levels in the coming sessions as it is the 80% retracement of the recent breather (Rs 215-177)


Promoter/FII Holdings
Promoters held 62.8 per cent stake in the company as of 30-Jun-2022, while FIIs owned 6.87 per cent, DIIs 6.26 per cent.