Buy Finolex Industries, target price Rs 244: Sharekhan by BNP Paribas
Finolex Industries with a target price of Rs 244. The current market price of Finolex Industries is Rs 208.75.
Sharekhan by BNP Paribas recommended to keep stop loss at Rs 200. Finolex Industries, incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 12946.25 Crore) operating in Plastics sector.
Finolex Industries key Products/Revenue Segments include PVC Pipes & Fittings, Scrap 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 1219.43 Crore, up 4.20 % from last quarter Total Income of Rs 1170.26 Crore and up .37 % from last year same quarter Total Income of Rs 1214.88 Crore. Company has reported net profit after tax of Rs 107.76 Crore in latest quarter.Investment Rationale Breakout from sideways consolidation on the daily charts with above average volumes.Promoter/FII Holdings Promoters held 52.47 per cent stake in the company as of 30-Jun-2023, while FIIs owned 5.81 per cent, DIIs 11.87 per cent.
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