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    Add TTK Prestige, target price Rs 9200: ICICI Securities

    Synopsis

    TTK Prestige Ltd., incorporated in the year 1955, is a Mid Cap company (having a market cap of Rs 12174.47 Crore) operating in Consumer Durables sector.

    Buy,-sell-1---IStock
    Promoters held 70.4 per cent stake in the company as of March 31, 2021, while FIIs held 10.3 per cent, DIIs 12.3 per cent and public and others 7 per cent.
    ICICI Securities has add call on TTK Prestige with a target price of Rs 9200. The current market price of TTK Prestige Ltd. is Rs 8840.

    Time period given by analyst is one year when TTK Prestige Ltd. price can reach defined target.

    TTK Prestige Ltd., incorporated in the year 1955, is a Mid Cap company (having a market cap of Rs 12174.47 Crore) operating in Consumer Durables sector.

    Financials
    For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 603.39 Crore, down -17.84 % from last quarter Total Income of Rs 734.37 Crore and up 42.12 % from last year same quarter Total Income of Rs 424.57 Crore. Company reported net profit after tax of Rs 85.36 Crore in latest quarter.

    Investment Rationale
    The brokerage models TTK Prestige to report PAT CAGR of 16.5% over FY21-FY23E and RoE to be >16% over FY22-23. It remains positive on the company’s business model due to market leadership in key business segments and competitive advantages. It maintains ADD rating on the stock with a DCF-based target price of Rs 9,200 (implied P/E 40x FY23E; Earlier TP-Rs9,000).

    Promoter/FII Holdings
    Promoters held 70.4 per cent stake in the company as of March 31, 2021, while FIIs held 10.3 per cent, DIIs 12.3 per cent and public and others 7 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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