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    Buy Berger Paints (India), target price Rs 650: Axis Securities

    Synopsis

    Strong comeback of bullish , fastest retracement ofrecent down fall, huge rising volumes.

    Berger PaintsETMarkets.com
    Promoters held 74.99 per cent stake in the company as of 31-Mar-2023, while FIIs owned 10.64 per cent, DIIs 3.46 per cent.
    Axis Securities has buy call on Berger Paints (India) with a target price of Rs 650.The current market price of Berger Paints (India) is Rs 604. Axis Securities recommended to keep stop loss at Rs 590.

    Berger Paints (India), incorporated in the year 1923, is a Large Cap company (having a market cap of Rs 58654.49 Crore) operating in Building Materials sector.

    Berger Paints (India) key Products/Revenue Segments include Paints, Enamels, Varnishes, Contract Revenue, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2704.47 Crore, up .78 % from last quarter Total Income of Rs 2683.50 Crore and up 5.39 % from last year same quarter Total Income of Rs 2566.22 Crore. Company has reported net profit after tax of Rs 198.68 Crore in latest quarter.

    The company’s top management includes Mr.Kuldip Singh Dhingra, Dr.Anoop Kumar Mittal, Mrs.Sonu Halan Bhasin, Mr.Naresh Gujral, Mr.Pulak Chandan Prasad, Mrs.Rishma Kaur, Mr.Kanwardip Singh Dhingra, Mr.Abhijit Roy, Mr.Gurbachan Singh Dhingra, Mr.Anoop Hoon. Company has S R Batliboi & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 97 Crore shares outstanding.

    Investment Rationale
    Strong comeback of bullish , fastest retracement of recent down fall, huge rising volumes.

    Promoter/FII Holdings
    Promoters held 74.99 per cent stake in the company as of 31-Mar-2023, while FIIs owned 10.64 per cent, DIIs 3.46 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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