Buy Granules India, target price Rs 383: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Granules India with a target price of Rs 383. The current market price of Granules India Ltd. is Rs 366.4. Time period given by analyst is Intra Day when Granules India Ltd. price can reach defined target.

Granules India Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 9093.38 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 802.59 Crore, down -6.78 % from last quarter Total Income of Rs 860.92 Crore and up 28.95 % from last year same quarter Total Income of Rs 622.40 Crore. Company reported net profit after tax of Rs 127.57 Crore in latest quarter.


Investment Rationale
Price volume breakout on daily frame and making higher highs–higher lows from the last three weeks

Promoter/FII Holdings
Promoters held 42 per cent stake in the company as of March 31, 2021, while FIIs held 23.1 per cent, DIIs 1.5 per cent and public and others 33.4 per cent.