Buy Orient Cement, target price Rs 107: Yes Securities

Yes Securities has buy call on Orient Cement with a target price of Rs 107. The current market price of Orient Cement Ltd. is Rs 98.7.

Orient Cement Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 2022.05 Crore) operating in Cement sector.

Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 611.98 Crore, up 27.45 % from last quarter Total Income of Rs 480.18 Crore and up 7.91 % from last year same quarter Total Income of Rs 567.15 Crore. Company reported net profit after tax of Rs 53.88 Crore in latest quarter.


Investment Rationale
Bulls regained control over momentum after prior week’s corrective decline. Appearance of a large bullish candle on comparatively higher volumes warrant positive outlook for the stock.

Promoter/FII Holdings
Promoters held 37.4 per cent stake in the company as of June 30, 2020, while FIIs held 3.1 per cent, DIIs 26.5 per cent and public and others 33 per cent.