Buy JK Paper, target price Rs 395: Axis Securities

Axis Securities has buy call on JK Paper Ltd. with a target price of Rs 395. The current market price of JK Paper Ltd. is Rs 360.45.
Time period given by analyst is Intra Day 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 5968.89 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-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1639.20 Crore, down -6.89 % from last quarter Total Income of Rs 1760.45 Crore and up 11.88 % from last year same quarter Total Income of Rs 1465.19 Crore. Company has reported net profit after tax of Rs 312.56 Crore in latest quarter.

Investment rationale
Daily chart multiple resistance breakout at 345 ,along with huge volumes.

Promoter/FII Holdings
Promoters held 49.63 per cent stake in the company as of 30-Jun-2023, while FIIs owned 10.46 per cent, DIIs 3.11 per cent.