Buy Grasim Industries, target price Rs 1820: Kotak Securities

Kotak Securities has buy call on Grasim Industries Ltd. with a target price of Rs 1820. The current market price of Grasim Industries Ltd. is Rs 1749.55. 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 115354.84 Crore) operating in Diversified sector.

Grasim Industries Ltd. key Products/Revenue Segments include Sale of Products, Other Operating Revenue, Scrap, Export Incentives, Power, Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 22817.58 Crore, up 13.02 % from last quarter Total Income of Rs 20189.29 Crore and up 22.67 % from last year same quarter Total Income of Rs 18600.72 Crore. Company reported net profit after tax of Rs 1921.00 Crore in latest quarter.


Investment Rationale
Strong breakout of the symmetrical triangle chart pattern with rising vol. indicates bullish momentum

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.