Buy Aarti Industries, target price Rs 1375: Edelweiss

Buy Aarti Industries, target price Rs 1375:  Edelweiss

Edelweiss has buy call on with a target price of Rs 1375. The current market price of Aarti Industries Ltd. is Rs 1304.8.

Aarti Industries Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 22755.02 Crore) operating in Pharmaceuticals sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1187.21 Crore, up 1.24 % from last quarter Total Income of Rs 1172.68 Crore and down -2.60 % from last year same quarter Total Income of Rs 1218.85 Crore. Company reported net profit after tax of Rs 169.18 Crore in latest quarter.

Investment Rationale
After making a top of around Rs 1,300, Aarti Ind slipped down and took support around Rs 1,200 levels. Recent move has broken out above the swing high and a move towards Rs 1,350-1,375 seems likely.

Promoter/FII Holdings
Promoters held 47.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 7.5 per cent, DIIs 15.8 per cent and public and others 29.2 per cent.

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