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    Buy Emami, target price Rs 212: Jayesh Bhanushali

    Synopsis

    The analyst suggested a stoploss at Rs 190.

    buy-sellThinkStock Photos


    Jayesh Bhanushali of IIFL has a buy call on Emami Ltd. with a target price of Rs 212.0. The current price of Emami Ltd. is Rs 199.1 Time period given by the analyst is Intra Day when Emami Ltd. price can reach defined target. . Jayesh Bhanushali recommended to keep a stoploss at Rs 190 .

    Emami Ltd., incorporated in 1983, has a market cap of Rs 9035.58 crore.

    Investment Rationale

    The stock has formed a bullish engulfing candlestick pattern on the daily chart.

    Financials

    For the quarter ended December 31, 2019, the company reported consolidated sales of Rs 812.64 crore, up 23.12 per cent from last quarter sales of Rs 660.05 crore and up 0.21 per cent from last year same quarter sales of Rs 810.90 crore. The company reported net profit after tax of Rs 146.04 crore in the latest quarter.

    Promoter/FII Holdings

    Promoters held 52.74 per cent stake in the company as of March 31, 2020 while FIIs held 7 per cent, DIIs 31.46 per cent and public and others 8.8 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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