Buy JK Paper, target price Rs 338: ICICI Direct

ICICI Direct has buy call on JK Paper with a target price of Rs 338. The current market price of JK Paper Ltd. is Rs 309.35. Time period given by analyst is 14 days when JK Paper Ltd. price can reach defined target.

JK Paper Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 5225.22 Crore) operating in Paper sector.

JK Paper Ltd. key Products/Revenue Segments include Paper & Paper Boards, Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1056.41 Crore, up 7.83 % from last quarter Total Income of Rs 979.74 Crore and up 37.12 % from last year same quarter Total Income of Rs 770.45 Crore. Company reported net profit after tax of Rs 151.05 Crore in latest quarter.

Investment Rationale
The stock has witnessed faster retracement of 5 months decline retraced in 3 months suggest robust price structure and augurs well for extension of up move

Promoter/FII Holdings
Promoters held 49.52 per cent stake in the company as of 31-Dec-2021, while FIIs owned 3.89 per cent, DIIs 2.52 per cent.