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Buy Dalmia Bharat, target price Rs 1610: Kotak Securities



Buy Dalmia Bharat, target price Rs 1610:  Kotak Securities

Kotak Securities has buy call on with a target price of Rs 1610. The current market price of Dalmia Bharat Ltd. is Rs 1559.85.

Dalmia Bharat Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 29123.68 Crore) operating in Cement sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 2903.00 Crore, up 18.44 % from last quarter Total Income of Rs 2451.00 Crore and up 16.77 % from last year same quarter Total Income of Rs 2486.00 Crore. Company reported net profit after tax of Rs 183.00 Crore in latest quarter.

Investment Rationale
Post a strong rally, the stock is trading in a triangle formation and 20-day EMA is acting as good support for upward movement in the coming sessions.

Promoter/FII Holdings
Promoters held 56.07 per cent stake in the company as of Dec 30, 2020, while FIIs held 13.53 per cent, DIIs 3.93 per cent and public and others 26.47 per cent.

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