Buy GRSE, target price Rs 255: ICICI Securities

ICICI Securities has buy call on Garden Reach Shipbuilders & Engineers with a target price of Rs 255. The current market price of Garden Reach Shipbuilders & Engineers Ltd. is Rs 197.

Garden Reach Shipbuilders & Engineers Ltd., incorporated in the year 1934, is a Small Cap company (having a market cap of Rs 2293.90 Crore) operating in Shipping sector.

Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 398.95 Crore, up 24.75 % from last quarter Total Income of Rs 319.80 Crore and down -5.21 % from last year same quarter Total Income of Rs 420.87 Crore. Company reported net profit after tax of Rs 57.62 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 74.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 1 per cent, DIIs 16 per cent and public and others 8.5 per cent.