Buy Grasim Industries, target price Rs 2080: Axis Securities

Axis Securities has buy call on Grasim Industries with a target price of Rs 2080. The current market price of Grasim Industries is Rs 1935.2. Axis Securities recommended to keep stop loss at Rs 1880.

Grasim Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 127482.34 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
Strong uptrend forming a series of higher tops and bottoms. Well placed above 20, 50, 100 & 200 SMAs.

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.