Buy Grasim Industries, target price Rs 2070: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on Grasim Industries with a target price of Rs 2070. The current market price of Grasim Industries is Rs 1964.85. Motilal Oswal Financial Services recommended to keep stop loss at Rs 1920.

Grasim Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 129842.82 Crore) operating in Diversified sector.

Grasim Industries key Products/Revenue Segments include Sale of Products, Scrap, Export Incentives, Other Operating Revenue, Power, Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 31360.98 Crore, down -6.89 % from last quarter Total Income of Rs 33682.49 Crore and up 11.17 % from last year same quarter Total Income of Rs 28209.61 Crore. Company has reported net profit after tax of Rs 2576.08 Crore in latest quarter.

Investment Rationale
Weekly range breakout after a long consolidationand base has been continuously shifting higher.

Promoter/FII Holdings
Promoters held 42.75 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.29 per cent, DIIs 14.96 per cent.