Buy India Cements, target price Rs 237: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on India Cements with a target price of Rs 237. The current market price of India Cements Ltd. is Rs 225.7. 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 6994.38 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 31-12-2021, the company reported a Consolidated Total Income of Rs 1168.12 Crore, down -5.91 % from last quarter Total Income of Rs 1241.44 Crore and down -1.78 % from last year same quarter Total Income of Rs 1189.24 Crore. Company reported net profit after tax of Rs 12.98 Crore in latest quarter.

Investment Rationale
Supports shifting higher and its coming out of its range along with buying in entire cement sector.

Promoter/FII Holdings
Promoters held 28.42 per cent stake in the company as of 31-Dec-2021, while FIIs owned 13.2 per cent, DIIs 7.9 per cent.