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ICICI Securities has buy call on CESC with a target price of Rs 120. The current market price of CESC Ltd. is Rs 93.55.
Time period given by analyst is one year when CESC Ltd. price can reach defined target.
CESC Ltd., incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 12268.15 Crore) operating in Power sector.
CESC Ltd. key Products/Revenue Segments include Electricity and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
Investment Rationale
The brokerage maintains BUY with an unchanged target price of Rs120. The stock is currently trading at FY24E P/E of 7.5x, P/BV of 1x, and the annual dividend yield is expected to be 5-6% over the next 2-3 years. CESC has declared an interim dividend of Rs4.5/sh for FY22.
Promoter/FII Holdings
Promoters held 52.11 per cent stake in the company as of 31-Dec-2021, while FIIs owned 13.48 per cent, DIIs 22.05 per cent.
Time period given by analyst is one year when CESC Ltd. price can reach defined target.
CESC Ltd., incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 12268.15 Crore) operating in Power sector.
CESC Ltd. key Products/Revenue Segments include Electricity and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3234.00 Crore, down -9.16 % from last quarter Total Income of Rs 3560.00 Crore and up 25.30 % from last year same quarter Total Income of Rs 2581.00 Crore. Company reported net profit after tax of Rs 340.00 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY with an unchanged target price of Rs120. The stock is currently trading at FY24E P/E of 7.5x, P/BV of 1x, and the annual dividend yield is expected to be 5-6% over the next 2-3 years. CESC has declared an interim dividend of Rs4.5/sh for FY22.
Promoter/FII Holdings
Promoters held 52.11 per cent stake in the company as of 31-Dec-2021, while FIIs owned 13.48 per cent, DIIs 22.05 per cent.
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