Axis Securities has buy call on Grindwell Norton with a target price of Rs 2260. The current market price of Grindwell Norton is Rs 1988. Time period given by analyst is Intra Day when Grindwell Norton Ltd. price can reach defined target.
Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 21950.24 Crore) operating in Industrial Consumables sector.
Grindwell Norton Ltd. key Products/Revenue Segments include Abrasives, Ceramics & Plastics, Service Income, Others, Other Operating Revenue for the year ending 31-Mar-2022.
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 648.88 Crore, up 13.75 % from last quarter Total Income of Rs 570.43 Crore and up 43.06 % from last year same quarter Total Income of Rs 453.57 Crore. Company reported net profit after tax of Rs 93.15 Crore in latest quarter.
Investment Rationale
Seven months’ ‘Multiple Resistance’ breakout at 1970 along with huge volumes.
Promoter/FII Holdings
Promoters held 58.08 per cent stake in the company as of 30-Jun-2022, while FIIs owned 7.44 per cent, DIIs 15.48 per cent.
Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 21950.24 Crore) operating in Industrial Consumables sector.
Grindwell Norton Ltd. key Products/Revenue Segments include Abrasives, Ceramics & Plastics, Service Income, Others, Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 648.88 Crore, up 13.75 % from last quarter Total Income of Rs 570.43 Crore and up 43.06 % from last year same quarter Total Income of Rs 453.57 Crore. Company reported net profit after tax of Rs 93.15 Crore in latest quarter.
Investment Rationale
Seven months’ ‘Multiple Resistance’ breakout at 1970 along with huge volumes.
Promoter/FII Holdings
Promoters held 58.08 per cent stake in the company as of 30-Jun-2022, while FIIs owned 7.44 per cent, DIIs 15.48 per cent.
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