Buy Grasim Industries, target price Rs 1550: Kotak Securities

Kotak Securities has buy call on Grasim Industries Ltd. with a target price of Rs 1550. The current market price of Grasim Industries Ltd. is Rs 1500.25.

Time period given by analyst is Intra Day when Grasim Industries Ltd. price can reach defined target.

Grasim Industries Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 98790.65 Crore) operating in Diversified sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 20189.29 Crore, down -17.69 % from last quarter Total Income of Rs 24529.53 Crore and up 44.23 % from last year same quarter Total Income of Rs 13997.90 Crore. Company reported net profit after tax of Rs 2311.26 Crore in latest quarter.

Investment Rationale
Reversal from its Double Bottom support zone on the daily chart indicates an uptrend to resume

Promoter/FII Holdings
Promoters held 40.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.6 per cent, DIIs 20.3 per cent and public and others 26.3 per cent.