ICICI Direct has given Buy recommendation for Radico Khaitan recommended buy rating on the stock with a target price of Rs 1200 in its research repo with a target price of Rs. 1200 in its research report issued on Feb 04, 2022
ICICI Direct’s research report on Radico Khaitan
Radico Khaitan (earlier Rampur Distillery Company) is among the largest manufacturers of Indian made foreign liquor (IMFL) in India. The company is also a supplier of Indian made Indian liquor (IMIL) and bulk alcohol in India. IMFL segment comprises ~80% of consolidated revenues. The rest is contributed by IMIL and bulk alcohol • P&A volumes contribute 30% to overall IMFL volumes (rest by popular).
We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 1200 i.e. 40x P/E on FY23E EPS.
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At 17:30 Radico Khaitan was quoting at Rs 978.25, down Rs 71.15, or 6.78 percent.
It has touched an intraday high of Rs 1,049.90 and an intraday low of Rs 970.65.
It was trading with volumes of 63,695 shares, compared to its thirty day average of 34,817 shares, an increase of 82.94 percent.
In the previous trading session, the share closed down 2.46 percent or Rs 26.50 at Rs 1,049.40.
The share touched its 52-week high Rs 1,299.85 and 52-week low Rs 494.75 on 06 January, 2022 and 19 April, 2021, respectively.
Currently, it is trading 24.74 percent below its 52-week high and 97.73 percent above its 52-week low.
Market capitalisation stands at Rs 13,076.64 crore.