India Cements stocks: Buy India Cements, target price Rs 230: Yes Securities

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Yes Securities has buy call on India Cements with a target price of Rs 230. The current market price of is Rs 203.8. Time period given by analyst is Intra Day when . price can reach defined target.

India Cements Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 6321.90 Crore) operating in Cement sector.

India Cements Ltd. key Products/Revenue Segments include Clinker, Ready Mix Concrete, Other Operating Revenue, Power Generation, Traded Goods for the year ending 31-Mar-2021.

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
Bullish pole follow-through, turtle breakout is accompanied with a move above objective trendline

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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