Buy India Cements, target price Rs 230: Yes Securities

Yes Securities has buy call on India Cements with a target price of Rs 230. The current market price of India Cements is Rs 203.8. Time period given by analyst is Intra Day when India Cements Ltd. price can reach defined target.

India Cements Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 6321.90 Crore) operating in Cement sector.

India Cements Ltd. key Products/Revenue Segments include Clinker, Ready Mix Concrete, Other Operating Revenue, Power Generation, Traded Goods for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1524.63 Crore, up 7.01 % from last quarter Total Income of Rs 1424.80 Crore and up 45.43 % from last year same quarter Total Income of Rs 1048.38 Crore. Company reported net profit after tax of Rs 83.83 Crore in latest quarter.

Investment Rationale
Bullish pole follow-through, turtle breakout is accompanied with a move above objective trendline

Promoter/FII Holdings
Promoters held 28.42 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.42 per cent, DIIs 7.69 per cent.