Buy Pidilite Industries, target price Rs 3235: Axis Securities

Axis Securities has buy call on Pidilite Industries with a target price of Rs 3235. The current market price of Pidilite Industries is Rs 2874.05. Time period given by analyst is 4 weeks 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 145729.31 Crore) operating in Diversified sector.

Pidilite Industries Ltd. key Products/Revenue Segments include Chemical Product, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3111.79 Crore, up 23.57 % from last quarter Total Income of Rs 2518.21 Crore and up 60.16 % from last year same quarter Total Income of Rs 1942.91 Crore. Company reported net profit after tax of Rs 354.10 Crore in latest quarter.

Investment Rationale
The daily and weekly strength indicator RSI continue to remain bullish and quoting above 50 mark which signals sustained and rising strength

Promoter/FII Holdings
Promoters held 69.94 per cent stake in the company as of 30-Jun-2022, while FIIs owned 11.13 per cent, DIIs 7.47 per cent.