Buy Page Industries, target price Rs 36,200: ICICI Direct

ICICI Direct has buy call on with a target price of Rs 36,200. The current market price of Page Industries is Rs 31,117.5. Time period given by analyst is 3 months when Page Industries Ltd. price can reach defined target.

Page Industries Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 34662.89 Crore) operating in Apparels sector.

Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 886.32 Crore, down -4.82 % from last quarter Total Income of Rs 931.21 Crore and up 60.81 % from last year same quarter Total Income of Rs 551.17 Crore. Company reported net profit after tax of Rs 115.56 Crore in latest quarter.
Investment Rationale
The stock has been finding it tough to move above its long term mean+2* levels in the last one year despite many attempts. It has been trading below these levels since early 2020. Currently, these levels are placed near Rs 30,800 and a move above these levels should trigger further upsides towards Rs 36,000 levels.

Promoter/FII Holdings
Promoters held 48.3 per cent stake in the company as of June 30, 2020, while FIIs held 26.2 per cent, DIIs 12.7 per cent and public and others 12.8 per cent.


(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)