Buy Piramal Enterprises, target price Rs 2210: Motilal Oswal

Motilal Oswal has buy call on Piramal Enterprises with a target price of Rs 2210. The current market price of Piramal Enterprises Ltd. is Rs 1768.

Piramal Enterprises Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 39718.43 Crore) operating in Diversified sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3264.82 Crore, down -2.23 % from last quarter Total Income of Rs 3339.39 Crore and down -17.28 % from last year same quarter Total Income of Rs 3947.00 Crore. Company reported net profit after tax of Rs 651.99 Crore in latest quarter.


Investment Rationale
The brokerage remains positive on PIEL on the back of superior execution in the Contract Development and Manufacturing (CDMO), complex hospital generics (CHG), and India Consumer Products (ICP) segments of Pharma and an enhanced retail-focused lending book.

Promoter/FII Holdings
Promoters held 46.1 per cent stake in the company as of Dec 30, 2020, while FIIs held 29.3 per cent, DIIs 10.5 per cent and public and others 14.1 per cent.