Buy Mayur Uniquoters, target price Rs 555: ICICI Direct

ICICI Direct has buy call on Mayur Uniquoters with a target price of Rs 555. The current market price of Mayur Uniquoters Ltd. is Rs 482.45. Time period given by analyst is three month when Mayur Uniquoters Ltd. price can reach defined target.

Mayur Uniquoters Ltd., incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 2161.12 Crore) operating in Plastics sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 175.81 Crore, up 36.41 % from last quarter Total Income of Rs 128.88 Crore and up 22.59 % from last year same quarter Total Income of Rs 143.41 Crore. Company reported net profit after tax of Rs 35.03 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to resume its up move after recent higher base formation and head towards its all time high of Rs 555 in the coming months

Promoter/FII Holdings
Promoters held 61.4 per cent stake in the company as of June 30, 2020, while FIIs held 7.1 per cent, DIIs 3.7 per cent and public and others 27.7 per cent.

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