Buy Equitas Holdings, target price Rs 115: HDFC Securities

HDFC Securities has buy call on Equitas Holdings with a target price of Rs 115. The current market price of Equitas Holdings Ltd. is Rs 107.85.

Equitas Holdings Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 3689.62 Crore) operating in Holding Company sector.

Equitas Holdings Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities and Rental Income for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1086.95 Crore, up 3.21 % from last quarter Total Income of Rs 1053.19 Crore and up 14.49 % from last year same quarter Total Income of Rs 949.37 Crore. Company reported net profit after tax of Rs 101.61 Crore in latest quarter.

Investment Rationale
Showing upside breakout of down sloping trend line resistance at `105 levels, as per weekly chart

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 27.29 per cent, DIIs 33.95 per cent.