Sell Pidilite Industries, target price Rs 2230: Yes Securities

Yes Securities has sell call on Pidilite Industries with a target price of Rs 2230.0. The current market price of Pidilite Industries is Rs 2491.85 Yes Securities recommended to keep stoploss at Rs 2610

Pidilite Industries, incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 126727.94 Crore) operating in Diversified sector.

Pidilite Industries key Products/Revenue Segments include Chemical Product, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 3298.54 Crore, up 21.62 % from last quarter Total Income of Rs 2712.07 Crore and up 6.00 % from last year same quarter Total Income of Rs 3111.79 Crore. Company has reported net profit after tax of Rs 474.64 Crore in latest quarter.

Investment Rationale
Bearish turtle break post high pole pattern and sustenance below 10-column average suggests decline.

Promoter/FII Holdings
Promoters held 69.92 per cent stake in the company as of 30-Jun-2023, while FIIs owned 11.34 per cent, DIIs 7.87 per cent.