Buy Birla Corporation, target price Rs 1305: Motilal Oswal

Motilal Oswal has buy call on Birla Corporation with a target price of Rs 1305. The current market price of is Rs 994.45.

Birla Corporation Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 7530.74 Crore) operating in Cement sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1822.82 Crore, up 8.80 % from last quarter Total Income of Rs 1675.41 Crore and up 5.04 % from last year same quarter Total Income of Rs 1735.39 Crore. Company reported net profit after tax of Rs 148.42 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 3.4 per cent, DIIs 15.2 per cent and public and others 18.6 per cent.