Buy SRF, target price Rs 9850: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on SRF with a target price of Rs 9850. The current market price of SRF Ltd. is Rs 9425.6.

Time period given by analyst is Intra Day when SRF price can reach defined target.

SRF Ltd., incorporated in the year 1970, is a Large Cap company (having a market cap of Rs 55830.02 Crore) operating in Diversified sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2713.18 Crore, up 3.53 % from last quarter Total Income of Rs 2620.61 Crore and up 74.45 % from last year same quarter Total Income of Rs 1555.25 Crore. Company reported net profit after tax of Rs 395.28 Crore in latest quarter.

Investment Rationale
Decisive hold above 9,300 zones with open interest activities and surpassed its previous hurdle

Promoter/FII Holdings
Promoters held 52.3 per cent stake in the company as of June 30, 2020, while FIIs held 17.1 per cent, DIIs 11.3 per cent and public and others 19.3 per cent.