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    Buy Amber Enterprises India, target price Rs 2504: Axis Securities

    Synopsis

    Amber Enterprises India Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 7581.09 Crore) operating in Consumer Durables sector.

    buyAgencies
    Promoters held 120.93 per cent stake in the company as of 30-Jun-2022, while FIIs owned 80.64 per cent, DIIs 26.28 per cent.
    Axis Securities has buy call on Amber Enterprises India with a target price of Rs 2504. The current market price of Amber Enterprises India is Rs 2250.5. Time period given by analyst is one year when Amber Enterprises India Ltd. price can reach defined target.

    Amber Enterprises India Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 7581.09 Crore) operating in Consumer Durables sector.

    Amber Enterprises India Ltd. key Products/Revenue Segments include Air Conditioners, Job Work, Scrap, Other Operating Revenue for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1838.58 Crore, down -5.52 % from last quarter Total Income of Rs 1946.07 Crore and up 157.13 % from last year same quarter Total Income of Rs 715.03 Crore. Company reported net profit after tax of Rs 42.89 Crore in latest quarter.

    Investment Rationale
    Amber’s revenues witnessed strong overall growth despite challenges posed by prevailing inflation. The RAC industry witnessed strong demand during the quarter despite price hikes. Furthermore, the industry is expected to grow 28-30% in volume terms and Amber is confident it to outpace the industry growth in FY23. Increasing product offerings, customer additions foray into the Commercial AC space, and entry into exports will drive the company’s long-term growth.

    Promoter/FII Holdings
    Promoters held 120.93 per cent stake in the company as of 30-Jun-2022, while FIIs owned 80.64 per cent, DIIs 26.28 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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