Buy EID Parry (India), target price Rs 450: Kotak Securities

Kotak Securities has buy call on EID Parry (India) Ltd. with a target price of Rs 450. The current market price of EID Parry (India) Ltd. is Rs 427.95.

Time period given by analyst is Intra Day when EID Parry (India) Ltd. price can reach defined target.

EID Parry (India) Ltd., incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 7588.84 Crore) operating in Sugar sector.


Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 4694.67 Crore, down -19.75 % from last quarter Total Income of Rs 5849.87 Crore and up 14.12 % from last year same quarter Total Income of Rs 4113.98 Crore. Company reported net profit after tax of Rs 245.11 Crore in latest quarter.

Investment Rationale
From the last few sessions, the stock is into a consolidation phase; meanwhile a Hammer candlestick pattern is formed near the support area, indicating bullish sentiment.