Profitmart sees 30% upside in Share India Securities shares in 18 months. Should you buy?

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Stock to buy today: Share India Securities shares have been in a bull trend since March 2023. After bottoming out at around ₹1,015 apiece in mid of March 2023, Share India Securities share price came out of the base building mode and it has been climbing to new life-time highs on a regular basis.

Share India Securities share price today opened higher at ₹1,868.50 apiece on NSE and went on to touch new life-time high of ₹1,884.45 per share during morning deals, delivering 85 percent return to its shareholders in the last nine months. Profitmart Securities sees further upside in this brokerage company's stock.

Profitmart Securities believes that Share India Securities share price may go up to ₹2,400 apiece in the next 18 months. Share India Securities share price today is around ₹1,855 apiece levels, which means Profitmart Securities is predicting around 30 percent upside in Share India Securities share price from current levels.

Also Read: RBZ Jewellers shares hit upper circuit for fourth straight session after listing Highlighting the business outlook and valuations of Share India Securities, Profitmart Securities report said, "On a consolidated basis, the company has reported a Topline and PAT of ₹1088.23 Crs and 330.66 Crs respectively for FY23 when compared to ₹856.50 Crs and 201.84 Crs in FY22 despite the headwinds faced by the stock market given the global issues. The company has healthy profitability with EBITDA and PAT margins of 45.27% and 30.07% respectively for FY23." Also Read: Why Anil Ambani-backed Reliance Power's share price i skyrocketing — explained "On a rough cut basis, in FY24E, Topline is expected to touch ₹1479 crs, followed by ₹1849 crs in FY25E & ₹2218 crs in FY26.