Buy Berger Paints, target price Rs 830: ICICI Direct

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Buy Berger Paints, target price Rs 830:  ICICI Direct


ICICI Direct has buy call on (India) with a target price of Rs 830. The current market price of Berger Paints (India) Ltd. is Rs 752.65.

Berger Paints (India) Ltd., incorporated in the year 1923, is a Large Cap company (having a market cap of Rs 73206.51 Crore) operating in Building Materials sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2133.79 Crore, up 20.84 % from last quarter Total Income of Rs 1765.73 Crore and up 24.77 % from last year same quarter Total Income of Rs 1710.13 Crore. Company reported net profit after tax of Rs 273.97 Crore in latest quarter.


Investment Rationale
The share price of Berger Paint has undergone healthy retracement over past three months and formed a higher base at lower band of rising channel. Thereby offering fresh entry opportunity with favourable risk reward to ride next leg of up move


Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2020, while FIIs held 11.7 per cent, DIIs 3 per cent and public and others 10.3 per cent.





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