Sell Cholamandalam Investment & Finance Company, target price Rs 640: Reliance Broking

Reliance Broking has sell call on Cholamandalam Investment & Finance Company with a target price of Rs 640. The current market price of Cholamandalam Investment & Finance Company is Rs 700.3.

Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 57467.82 Crore) operating in NBFC sector.

Cholamandalam Investment & Finance Company Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Sale of services and Income From Sale Of Share & Securities for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2795.91 Crore, up 5.24 % from last quarter Total Income of Rs 2656.63 Crore and up 12.65 % from last year same quarter Total Income of Rs 2481.91 Crore. Company reported net profit after tax of Rs 567.28 Crore in latest quarter.

Investment Rationale
Seeing normal profit-taking. Prevailing chart pattern indicates the decline to extend further.

Promoter/FII Holdings
Promoters held 51.52 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.22 per cent, DIIs 20.15 per cent.