Buy Orient Refractories, target price Rs 370: IIFL

IIFL has buy call on Orient Refractories with a target price of Rs 370. The current market price of Orient Refractories Ltd. is Rs 346.15. Time period given by analyst is Intra Day when Orient Refractories Ltd. price can reach defined target.

Orient Refractories Ltd., incorporated in the year 2010, is a Mid Cap company (having a market cap of Rs 4200.67 Crore) operating in Industrial Consumables sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 201.77 Crore, up 10.78 % from last quarter Total Income of Rs 182.13 Crore and up 18.86 % from last year same quarter Total Income of Rs 169.76 Crore. Company reported net profit after tax of Rs 24.39 Crore in latest quarter.


Investment Rationale
Stock has given a bullish flag pattern breakout on the daily chart along with an uptick in the volume.