India Cements stocks: Buy India Cements, target price Rs 240: Kotak Securities

Kotak Securities has buy call on India Cements Ltd. with a target price of Rs 240. The current market price of . is Rs 234.1. India Cements Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 7263.99 Crore) operating in Cement sector.

India Cements Ltd. key Products/Revenue Segments include Cement, Ready Mix Concrete, Clinker, Other Operating Revenue, Power Generation and Traded Goods for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1524.63 Crore, up 7.01 % from last quarter Total Income of Rs 1424.80 Crore and up 45.43 % from last year same quarter Total Income of Rs 1048.38 Crore. Company reported net profit after tax of Rs 83.83 Crore in latest quarter.

Investment Rationale
Chart formation suggests bullish continuation to persist in the near term.


Promoter/FII Holdings
Promoters held 28.42 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.42 per cent, DIIs 7.69 per cent.

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