Sell Grasim Industries, target price Rs 1718: ICICI Direct

ICICI Direct has sell call on Grasim Industries with a target price of Rs 1718. The current market price of Grasim Industries is Rs 1753.

Time period given by analyst is Intra Day when Grasim Industries Ltd. price can reach defined target.

Grasim Industries Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 115178.24 Crore) operating in Diversified sector.


Grasim Industries Ltd. key Products/Revenue Segments include Sale of Products, Other Operating Revenue, Scrap, Export Incentives, Power, Sale of services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 22817.58 Crore, up 13.02 % from last quarter Total Income of Rs 20189.29 Crore and up 22.67 % from last year same quarter Total Income of Rs 18600.72 Crore. Company reported net profit after tax of Rs 1921.00 Crore in latest quarter.

Investment Rationale
Price close below 20 day EMA& RSI in sell mode

Promoter/FII Holdings
Promoters held 42.26 per cent stake in the company as of 30-Sep-2021, while FIIs owned 14.96 per cent, DIIs 15.28 per cent.