Buy India Cements, target price Rs 243: Shrikant Chouhan
India Cements with a target price of Rs 243. The current market price of India Cements is Rs 230.75.
Shrikant Chouhan recommended to keep stop loss at Rs 231.
India Cements, incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 7118.34 Crore) operating in Cement sector.
India Cements key Products/Revenue Segments include Cement, Ready Mix Concrete, Clinker, Other Operating Revenue, Power Generation and Traded Goods 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 1443.87 Crore, down -3.33 % from last quarter Total Income of Rs 1493.66 Crore and down -5.30 % from last year same quarter Total Income of Rs 1524.63 Crore. Company has reported net profit after tax of Rs -73.58 Crore in latest quarter.
Investment Rationale
Counter is available near its multiple support zone and the structure is indicating for a fresh up move.
Promoter/FII Holdings Promoters held 28.42 per cent stake in the company as of 30-Jun-2023, while FIIs owned 13.65 per cent, DIIs 9.43 per cent.
