Buy Greaves Cotton, target price Rs 183: Yes Securities

Yes Securities has buy call on Greaves Cotton with a target price of Rs 183. The current market price of Greaves Cotton Ltd. is Rs 173.9. Time period given by analyst is Intra Day when Greaves Cotton Ltd. price can reach defined target.

Greaves Cotton Ltd., incorporated in the year 1922, is a Mid Cap company (having a market cap of Rs 4019.53 Crore) operating in Engineering sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 522.88 Crore, up 5.29 % from last quarter Total Income of Rs 496.63 Crore and up 34.27 % from last year same quarter Total Income of Rs 389.42 Crore. Company reported net profit after tax of Rs 13.65 Crore in latest quarter.

Investment Rationale
A swift reversal from the support zone ensures a shift of band on the upside. The stock has resumed its northbound journey towards uncharted territory.

Promoter/FII Holdings
Promoters held 54.8 per cent stake in the company as of June 30, 2020, while FIIs held 14.3 per cent, DIIs 13.1 per cent and public and others 17.7 per cent.