Buy Kiri Industries, target price Rs 580: Axis Securities

Axis Securities has buy call on Kiri Industries with a target price of Rs 580. The current market price of Kiri Industries Ltd. is Rs 522.5. Time period given by analyst is 4 weeks when Kiri Industries Ltd. price can reach defined target.

Kiri Industries Ltd., incorporated in the year 1998, is a Small Cap company (having a market cap of Rs 2691.75 Crore) operating in Chemicals sector.

Kiri Industries Ltd. key Products/Revenue Segments include Dyes Intermediates 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 263.70 Crore, down -10.06 % from last quarter Total Income of Rs 293.20 Crore and up 50.26 % from last year same quarter Total Income of Rs 175.50 Crore. Company reported net profit after tax of Rs -7.44 Crore in latest quarter.

Investment Rationale
The daily and weekly strength indicator RSI is in bullish mode which supports rising strength as well as momentum.

Promoter/FII Holdings
Promoters held 34.98 per cent stake in the company as of 31-Dec-2021, while FIIs owned 34.48 per cent, DIIs 0.62 per cent.