Buy CCL Products India, target price Rs 460: Yes Securities

Yes Securities has buy call on CCL Products India with a target price of Rs 460. The current market price of CCL Products India Ltd. is Rs 421.85. Time period given by analyst is Intra Day when CCL Products India Ltd. price can reach defined target.

CCL Products India Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 5610.45 Crore) operating in Tea / Coffee sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 326.23 Crore, down -2.49 % from last quarter Total Income of Rs 334.55 Crore and up 12.78 % from last year same quarter Total Income of Rs 289.26 Crore. Company reported net profit after tax of Rs 43.84 Crore in latest quarter.

Investment Rationale
After losing ~20 per cent from the recent peak, the stock found renewed buying interest. The appearance of a bullish candle at the current juncture represents the immediate floor near Rs 405, while positive follow-up action could lift the stock towards Rs 460 zone.