Granules India share price: Buy Granules India, target price Rs 335: Kotak Securities

Kotak Securities has buy call on Granules India with a target price of Rs 335. The current market price of Granules India is Rs 324.9. Time period given by analyst is Intra Day when Granules India price can reach defined target.

Granules India Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 8008.56 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 802.59 Crore, down -6.78 % from last quarter Total Income of Rs 860.92 Crore and up 28.95 % from last year same quarter Total Income of Rs 622.40 Crore. Company reported net profit after tax of Rs 127.57 Crore in latest quarter.

Investment Rationale
Strong reversal formation is seen at the multiple support area with incremental volume activity.


Promoter/FII Holdings
Promoters held 42 per cent stake in the company as of Dec 30, 2020, while FIIs held 26.4 per cent, DIIs 0.3 per cent and public and others 31.3 per cent.

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