Buy Relaxo Footwears, target price Rs 800: IIFL

IIFL has buy call on Relaxo Footwears with a target price of Rs 800. The current market price of Relaxo Footwears Ltd. is Rs 767.9 .

Relaxo Footwears Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 18867.97 Crore) operating in Leather sector.

Financials
For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 575.87 Crore, up 58.39 % from last quarter Sales of Rs 363.58 Crore and down -7.38 % from last year same quarter Sales of Rs 621.77 Crore Company has reported net profit after tax of Rs 75.10 Crore in latest quarter.


Investment Rationale
Stock has given a consolidation breakout on the daily chart.