Buy Pidilite Industries, target price Rs 2300: Kotak Securities

Kotak Securities has buy call on Pidilite Industries with a target price of Rs 2300. The current market price of Pidilite Industries is Rs 2213.15.

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

Pidilite Industries Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 113572.28 Crore) operating in Diversified sector.


Pidilite Industries Ltd. key Products/Revenue Segments include Consumer Family Products, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 2640.25 Crore, up 35.89 % from last quarter Total Income of Rs 1942.91 Crore and up 38.81 % from last year same quarter Total Income of Rs 1902.02 Crore. Company reported net profit after tax of Rs 374.88 Crore in latest quarter.

Investment Rationale
Reversal from its multiple support area on the daily and intraday chart indicates an uptrend to resume.

Promoter/FII Holdings
Promoters held 69.99 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.78 per cent, DIIs 7.3 per cent.