Buy Grasim Industries, target price Rs 1550: Yes Securities

Yes Securities has buy call on with a target price of Rs 1550. The current market price of Grasim Industries Ltd. is Rs 1492.35. Time period given by analyst is Intra Day when Grasim Industries Ltd. price can reach defined target.

Grasim Industries Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 98246.10 Crore) operating in Diversified sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 24529.53 Crore, up 14.94 % from last quarter Total Income of Rs 21341.10 Crore and up 21.59 % from last year same quarter Total Income of Rs 20174.61 Crore. Company reported net profit after tax of Rs 2533.30 Crore in latest quarter.

Investment Rationale
With sustained move above important averages, the stock rebounded from the support zone. Positive follow up action could resume its journey towards uncharted territory.

Promoter/FII Holdings
Promoters held 40.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.6 per cent, DIIs 20.3 per cent and public and others 26.3 per cent.