Buy Orient Electric, target price Rs 415: Centrum Broking

Centrum Broking has buy call on Orient Electric with a target price of Rs 415. The current market price of Orient Electric Ltd. is Rs 345.55.

Time period given by analyst is one year when Orient Electric Ltd. price can reach defined target.

Orient Electric Ltd., incorporated in the year 2016, is a Mid Cap company (having a market cap of Rs 7329.95 Crore) operating in Consumer Durables sector.


Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 423.22 Crore, down -47.47 % from last quarter Total Income of Rs 805.70 Crore and up 135.59 % from last year same quarter Total Income of Rs 179.64 Crore. Company reported net profit after tax of Rs 5.01 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 38.5 per cent stake in the company as of June 30, 2021, while FIIs held 8.8 per cent, DIIs 22.4 per cent and public and others 30.4 per cent.