/Buy Piramal Enterprises, target price Rs 1700: Motilal Oswal

Buy Piramal Enterprises, target price Rs 1700: Motilal Oswal

Motilal Oswal has buy call on Piramal Enterprises with a target price of Rs 1700. The current market price of Piramal Enterprises Ltd. is Rs 1615.25.

Piramal Enterprises Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 36653.37 Crore) operating in Diversified sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 3301.84 Crore, up 12.41 % from last quarter Sales of Rs 2937.34 Crore and down -8.37 % from last year same quarter Sales of Rs 3603.56 Crore Company reported net profit after tax of Rs 578.07 Crore in latest quarter.

Investment Rationale
Breakout above 1600 zones with higher top – higher bottom on daily scale.

Promoter/FII Holdings
Promoters held 46.1 per cent stake in the company as of Sept 30, 2020, while FIIs held 29.7 per cent, DIIs 10.2 per cent and public and others 14.1 per cent.

Let’s block ads! (Why?)

Markets-Economic Times