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    Buy Dalmia Bharat, target price Rs 2230: Axis Securities

    Synopsis

    Dalmia Bharat, incorporated in the year 2013, is a Mid Cap company (having a market cap of Rs 35965.86 Crore) operating in Cement sector.

    Dalmia Bharat to invest Rs 9,000 crore in expanding cement capacityAgencies
    The daily and weekly strength indicator RSI is in bullish mode and weekly RSI holding above its reference line which indicate positive momentum.
    Axis Securities has buy call on Dalmia Bharat with a target price of Rs 2230. The current market price of Dalmia Bharat is Rs 1920.45. Time period given by analyst is 3-4 weeks when Dalmia Bharat's price can reach defined target. Axis Securities recommended to keep stop loss at Rs 1780.

    Dalmia Bharat, incorporated in the year 2013, is a Mid Cap company (having a market cap of Rs 35965.86 Crore) operating in Cement sector.

    Dalmia Bharat key Products/Revenue Segments include Income From Management Services for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 3009.00 Crore, down -9.48 % from last quarter Total Income of Rs 3324.00 Crore and up 14.76 % from last year same quarter Total Income of Rs 2622.00 Crore. Company has reported net profit after tax of Rs 41.00 Crore in latest quarter.

    The company’s top management includes Mr.Pradip Kumar Khaitan, Mr.Puneet Yadu Dalmia, Mr.Gautam Dalmia, Dr.Niddodi Subrao Rajan, Mr.Yadu Hari Dalmia, Mrs.Sudha Pillai, Mr.Virendra Singh Jain. Company has S S Kothari Mehta & Co as its auditors. As on 30-09-2022, the company has a total of 19 Crore shares outstanding.

    Investment Rationale
    The stock on weekly timeframe has decisively broken out above the “Multiple resistance zone” placed at1800-1760 levels. Also, the stock broke out above medium term downward sloping trendline indicating change of trend. The daily and weekly strength indicator RSI is in bullish mode and weekly RSI holding above its reference line which indicate positive momentum.

    Promoter/FII Holdings
    Promoters held 55.87 per cent stake in the company as of 30-Sep-2022, while FIIs owned 14.01 per cent, DIIs 8.01 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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