Buy Grasim At Rs 1843

Buy Grasim At Rs 1843Stock market analyst Hemen Kapadia has maintained 'buy' rating on Grasim Industries Ltd stock to achieve an intra-day target of Rs 1863

According to analyst, the investors can buy the stock at Rs 1843 with stop loss of Rs 1833.

The stock of the company, on July 01, closed at Rs 1843 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 315.75 and 5.87 respectively.

The share price has seen a 52-week high of Rs 2332.08 and a low of Rs 1682.70 on BSE.

Grasim Ind Ltd bettered its performance during the March 10 quarter on the back of a strong performance in its VSF section, which helped the company's standalone operating profit margin, grew by 360 basis points Y-o-Y to
28.2%.

The company's net sales also surged 16.9% Y-o-Y to Rs 3,437.3 crore during the three month period under review.

According to the reorganization plan declared earlier by Grasim, its cement biz demerged to its wholly-owned arm Samruddhi Cement and it has provided the quarterly results, comprising the cement segment, to facilitate comparison.

In the meantime, in its VSF segment, a resumption in the worldwide textile business, aided realizations in this section rise by a hefty 25.6% to around Rs 1.2-lakh per tonne in the quarter under review.

The company's sales volumes surged 31%.

Incorporated in the year 1948; Grasim Industries Limited is the biggest exporter of Viscose Rayon Fiber in India, with exports to more than 50 nations. This, together with Aditya Birla Nuvo can be regarded as companies of the AV Birla Group.