Buy CESC, target price Rs 93: Yes Securities

Yes Securities has buy call on CESC with a target price of Rs 93. The current market price of CESC Ltd. is Rs 87.9 Time period given by analyst is Intra Day 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 11645.14 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 30-09-2021, the company reported a Consolidated Total Income of Rs 3560.00 Crore, up 6.49 % from last quarter Total Income of Rs 3343.00 Crore and up 18.27 % from last year same quarter Total Income of Rs 3010.00 Crore. Company reported net profit after tax of Rs 340.00 Crore in latest quarter.

Investment Rationale
After losing 21% from the October peak, the stock has gained some positive traction. The appearance of multiple bullish candles is likely to unlock upside potential till 93 zone.

Promoter/FII Holdings
Promoters held 49.92 per cent stake in the company as of 30-Jun-2021, while FIIs owned 13.38 per cent, DIIs 23.57 per cent.