Add Kansai Nerolac Paints, target price Rs 650: ICICI Securities

ICICI Securities has add call on Kansai Nerolac Paints with a target price of Rs 650. The current market price of Kansai Nerolac Paints Ltd. is Rs 624.

Time period given by analyst is one year when Kansai Nerolac Paints Ltd. price can reach defined target.
Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 33768.71 Crore) operating in Building Materials sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1470.50 Crore, down -8.49 % from last quarter Total Income of Rs 1606.86 Crore and up 35.67 % from last year same quarter Total Income of Rs 1083.91 Crore. Company reported net profit after tax of Rs 123.62 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of Sept 30, 2020, while FIIs held 4.2 per cent, DIIs 12.1 per cent and public and others 8.8 per cent.