Sell Piramal Enterprises, target price Rs 1990: Kotak Securities

Kotak Securities has sell call on Piramal Enterprises with a target price of Rs 1990. The current market price of Piramal Enterprises Ltd. is Rs 2060.6. Time period given by analyst is Intra Day when Piramal Enterprises Ltd. price can reach defined target.

Piramal Enterprises Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 49139.66 Crore) operating in Diversified sector.

Piramal Enterprises Ltd. key Products/Revenue Segments include Interest, Pharmaceuticals, Income From Financial Services, Dividend, Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 4067.19 Crore, up 25.78 % from last quarter Total Income of Rs 3233.59 Crore and up 24.58 % from last year same quarter Total Income of Rs 3264.82 Crore. Company reported net profit after tax of Rs 704.88 Crore in latest quarter.

Investment Rationale
Stock is in a downtrend as it is unable to sustain on higher levels resulting in bearish continuation

Promoter/FII Holdings
Promoters held 43.49 per cent stake in the company as of 31-Dec-2021, while FIIs owned 35.31 per cent, DIIs 8.19 per cent.