Buy GE Power India, target price Rs 370: Yes Securities

Yes Securities has buy call on GE Power India with a target price of Rs 370. The current market price of is Rs 328.15. Time period given by analyst is Intra Day when GE Power India Ltd. price can reach defined target.

GE Power India Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 2209.09 Crore) operating in Power sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1143.13 Crore, up 24.55 % from last quarter Total Income of Rs 917.80 Crore and up 45.68 % from last year same quarter Total Income of Rs 784.67 Crore. Company reported net profit after tax of Rs 35.09 Crore in latest quarter.
Investment Rationale
After a multi-year swift downtrend, the stock has gained some positive traction. It managed to surpass the hurdle of Rs 315. Hence, a positive follow up could lift the stock towards Rs 370.

Promoter/FII Holdings
Promoters held 68.6 per cent stake in the company as of June 30, 2020, while FIIs held 3.4 per cent, DIIs 16.3 per cent and public and others 11.7 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.)