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Buy Granules India, target price Rs 360: Yes Securities

Yes Securities has buy call on with a target price of Rs 360. The current market price of Granules India Ltd. is Rs 335.6. Time period given by analyst is Intra Day when Granules India Ltd. price can reach defined target.

Granules India Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 8328.03 Crore) operating in Pharmaceuticals sector.

Granules India Ltd. key Products/Revenue Segments include Pharmaceuticals and Other Operating Revenue for the year ending 31-Mar-2021.

Financials

For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 892.68 Crore, up 4.11 % from last quarter Total Income of Rs 857.47 Crore and up 3.64 % from last year same quarter Total Income of Rs 861.34 Crore. Company has reported net profit after tax of Rs 80.68 Crore in latest quarter.

Investment Rationale
The stock has resumed the uptrend after breaking out of a narrow consolidation zone on healthy volumes, confirming the bullishness. Further, it is also on the verge of a breakout from a Triangle pattern confirming the bullishness. RSI has also turned upwards from the lower end of the bull zone.


Promoter/FII Holdings
Promoters held 41.98 per cent stake in the company as of 31-Dec-2021, while FIIs owned 21.38 per cent, DIIs 4.34 per cent.

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