Buy Asian Paints, target price Rs 2480: ICICI Direct

Buy Asian Paints, target price Rs 2480:  ICICI Direct

ICICI Direct has buy call on with a target price of Rs 2480. The current market price of Asian Paints Ltd. is Rs 2440.3.

Asian Paints Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 234384.78 Crore) operating in Building Materials sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 6886.39 Crore, up 26.75 % from last quarter Total Income of Rs 5432.86 Crore and up 25.43 % from last year same quarter Total Income of Rs 5490.11 Crore. Company reported net profit after tax of Rs 1240.10 Crore in latest quarter.

Investment Rationale
Stock has been forming a higher base above 100 days EMA, & sustain above rising trend line

Promoter/FII Holdings
Promoters held 52.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 19.8 per cent, DIIs 8.2 per cent and public and others 19.2 per cent

Source link


Please enter your comment!
Please enter your name here