Stock recommendations: Buy Godfrey Phillips India, target price Rs 1210: Anand Rathi
Godfrey Phillips India Ltd. key Products/Revenue Segments include Tobacco Unmanufactured, Traded Goods, Cut Tobacco, Other Operating Revenue, Export Incentives for the year ending 31-Mar-2021.
By ETMarkets.com | Updated:
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Anand Rathi has buy call on Godfrey Phillips India with a target price of Rs 1210. The current market price of Godfrey Phillips India is Rs 1195.8. Godfrey Phillips India Ltd., incorporated in the year 1936, is a Mid Cap company (having a market cap of Rs 6278.27 Crore) operating in Tobacco sector.
Godfrey Phillips India Ltd. key Products/Revenue Segments include Tobacco Unmanufactured, Traded Goods, Cut Tobacco, Other Operating Revenue, Export Incentives for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 894.17 Crore, up 10.73 % from last quarter Total Income of Rs 807.51 Crore and up 1.97 % from last year same quarter Total Income of Rs 876.88 Crore. Company reported net profit after tax of Rs 116.87 Crore in latest quarter.
Investment Rationale
GODFRYP confirmed a breakout on the daily chart from its previous swing high of 1117 with great volumes. As a result it has managed to reclaim its 200 DSMA and EMA which is a sign of strength. On the weekly chart; it is about to confirm a breakout from Ichimoku cloud and in that case traders can expect a faster move on the upside. Thus traders can buy the stock near 1135 with given trade set up.
Promoter/FII Holdings
Promoters held 72.83 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.16 per cent, DIIs 1.64 per cent.
Godfrey Phillips India Ltd. key Products/Revenue Segments include Tobacco Unmanufactured, Traded Goods, Cut Tobacco, Other Operating Revenue, Export Incentives for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 894.17 Crore, up 10.73 % from last quarter Total Income of Rs 807.51 Crore and up 1.97 % from last year same quarter Total Income of Rs 876.88 Crore. Company reported net profit after tax of Rs 116.87 Crore in latest quarter.
Investment Rationale
GODFRYP confirmed a breakout on the daily chart from its previous swing high of 1117 with great volumes. As a result it has managed to reclaim its 200 DSMA and EMA which is a sign of strength. On the weekly chart; it is about to confirm a breakout from Ichimoku cloud and in that case traders can expect a faster move on the upside. Thus traders can buy the stock near 1135 with given trade set up.
Promoter/FII Holdings
Promoters held 72.83 per cent stake in the company as of 31-Dec-2021, while FIIs owned 10.16 per cent, DIIs 1.64 per cent.
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