Buy Shree Cements, target price Rs 31,200: ICICI Securities

ICICI Securities has buy call on with a target price of Rs 31200. The current market price of Shree Cements is Rs 27700.

Time period given by analyst is one year when Shree Cements Ltd. price can reach defined target.

Shree Cements Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 97850.99 Crore) operating in Cement sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4333.37 Crore, up 18.74 % from last quarter Total Income of Rs 3649.38 Crore and up 23.34 % from last year same quarter Total Income of Rs 3513.31 Crore. Company reported net profit after tax of Rs 799.79 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 62.6 per cent stake in the company as of June 30, 2020, while FIIs held 13.2 per cent, DIIs 9.9 per cent and public and others 14.3 per cent.