Buy Triveni Engineering & Industries, target price Rs 320: Edelweiss

Edelweiss has buy call on Triveni Engineering & Industries Ltd. with a target price of Rs 320. The current market price of Triveni Engineering & Industries Ltd. is Rs 282.05.

Triveni Engineering & Industries Ltd., incorporated in the year 1932, is a Small Cap company (having a market cap of Rs 6818.70 Crore) operating in Sugar sector.

Triveni Engineering & Industries Ltd. key Products/Revenue Segments include Sugar, Contract Revenue, Other Operating Revenue, Sale of services, Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1483.33 Crore, up 20.06 % from last quarter Total Income of Rs 1235.53 Crore and up 27.47 % from last year same quarter Total Income of Rs 1163.66 Crore. Company reported net profit after tax of Rs 1379.80 Crore in latest quarter.

Investment Rationale
About to make swing high. Breakout confirmed on daily & weekly charts showing strong bullish pace.

Promoter/FII Holdings
Promoters held 68.43 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.62 per cent, DIIs 4.85 per cent.