Buy Page Industries, target price Rs 42200: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Page Industries Ltd. with a target price of Rs 42200. The current market price of Page Industries Ltd. is Rs 40429.65.

Time period given by analyst is Intra Day when Page Industries Ltd. price can reach defined target.

Page Industries Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 45085.69 Crore) operating in Apparels sector.


Page Industries Ltd. key Products/Revenue Segments include Innerwear & Leisurewear, Scrap & Others, Other Operating Revenue and Duty Drawback for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 1089.37 Crore, up 115.68 % from last quarter Total Income of Rs 505.09 Crore and up 46.42 % from last year same quarter Total Income of Rs 744.02 Crore. Company reported net profit after tax of Rs 160.49 Crore in latest quarter.

Investment Rationale
Stock came out of its range on daily scale and closed above its 50 DEMA

Promoter/FII Holdings
Promoters held 47.91 per cent stake in the company as of 30-Sep-2021, while FIIs owned 23.73 per cent, DIIs 18.2 per cent.