Buy Praj Industries, target price Rs 405: Axis Securities

Axis Securities has buy call on Praj Industries with a target price of Rs 405. The current market price of Praj Industries Ltd. is Rs 358.95. Time period given by analyst is Intra Day when Praj Industries Ltd. price can reach defined target.

Praj Industries Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 6590.19 Crore) operating in Engineering sector.

Praj Industries Ltd. key Products/Revenue Segments include Sale of services and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 836.48 Crore, up 41.63 % from last quarter Total Income of Rs 590.63 Crore and up 46.41 % from last year same quarter Total Income of Rs 571.34 Crore. Company reported net profit after tax of Rs 57.65 Crore in latest quarter.

Investment Rationale
Bounced from one year multiple support of 300 levels, recaptured 20-day SMA with high volumes

Promoter/FII Holdings
Promoters held 32.83 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.84 per cent, DIIs 8.83 per cent.