ThinkStock PhotosHDFC Securities has buy call on VIP Industries with targets of Rs 721 and Rs 800. Time period given by analyst is up to 3 months when the stock price can reach defined targets.
VIP Industries, incorporated in the year 1968, is a Mid Cap company (having a market cap of Rs 9098.81 crore) operating in plastics sector.
Investment Rationale
The stock price is on the verge of breaking out from the symmetrical triangle and has broken out on the monthly chart. Primary trend of the stock is positive as it is trading above its 50, 100 and 200 day EMA.
Also, RSI and MFI oscillator is placed above 50 and rising upwards, Indicating strength in the current uptrend.
Considering the technical evidences, the brokerage recommends buying VIP andaverage at 600 for the upside targets of 721 and 800, keeping a stop-loss at 580.
Financials
For the quarter ended 31-12-2021, the company has reported a Consolidated Total Income of Rs 406.74 crore, up 20.77% from last quarter Total Income of Rs 336.79 crore and up 67.51% from last year same quarter Total Income of Rs 242.82 crore. Company has reported net profit after tax of Rs 33.48 crore in latest quarter.
Promoter/FII Holdings
Promoters held 50.27 per cent stake in the company as of 31-Dec-2021, while FIIs owned 5.84 per cent, DIIs 23.61 per cent.
VIP Industries, incorporated in the year 1968, is a Mid Cap company (having a market cap of Rs 9098.81 crore) operating in plastics sector.
Investment Rationale
The stock price is on the verge of breaking out from the symmetrical triangle and has broken out on the monthly chart. Primary trend of the stock is positive as it is trading above its 50, 100 and 200 day EMA.
Also, RSI and MFI oscillator is placed above 50 and rising upwards, Indicating strength in the current uptrend.
Considering the technical evidences, the brokerage recommends buying VIP andaverage at 600 for the upside targets of 721 and 800, keeping a stop-loss at 580.
Financials
For the quarter ended 31-12-2021, the company has reported a Consolidated Total Income of Rs 406.74 crore, up 20.77% from last quarter Total Income of Rs 336.79 crore and up 67.51% from last year same quarter Total Income of Rs 242.82 crore. Company has reported net profit after tax of Rs 33.48 crore in latest quarter.
Promoter/FII Holdings
Promoters held 50.27 per cent stake in the company as of 31-Dec-2021, while FIIs owned 5.84 per cent, DIIs 23.61 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Pick the best companies to invest
BECOME AN ETPRIME MEMBERRead More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by