Hold Amber Enterprises, target price Rs 2140: Emkay Global

Emkay Global has given a hold rating to Amber Enterprises with a target price of Rs 2140. The share price moved down by 0.81 per cent from its previous close of Rs 2321.40. The stock’s last traded price is Rs 2302.60.

Amber Enterprises India Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 7777.52 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 407.93 Crore, up 57.23 % from last quarter Sales of Rs 259.45 Crore and down -34.55 % from last year same quarter Sales of Rs 623.24 Crore Company reported net profit after tax of Rs 2.84 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 40.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 25.4 per cent, DIIs 9.5 per cent and public and others 24.9 per cent.