Buy Kaveri Seed Company, target price Rs 670: HDFC Securities

HDFC Securities has buy call on Kaveri Seed Company with a target price of Rs 670. The current market price of Kaveri Seed Company is Rs 614.6. Time period given by analyst is Intra Day when Kaveri Seed Company Ltd. price can reach defined target.

Kaveri Seed Company Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 3588.24 Crore) operating in Agriculture/Horticulture/Livestock sector.

Kaveri Seed Company Ltd. key Products/Revenue Segments include Seeds for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 132.81 Crore, down -18.38 % from last quarter Total Income of Rs 162.71 Crore and up 5.32 % from last year same quarter Total Income of Rs 126.10 Crore. Company reported net profit after tax of Rs 7.04 Crore in latest quarter.

Investment Rationale
Surpassed the top resistance of 585 and is now placed above important moving averages

Promoter/FII Holdings
Promoters held 57.44 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.58 per cent, DIIs 6.69 per cent.