Sharekhan has given Buy recommendation for Grasim Industries with a target price of Rs. 2100 in its research report issued on Feb 14, 2022

Sharekhan’s research report on Grasim Industries

Grasim reported better-than-expected revenues for Q3FY2022 led by strong growth in both viscose and chemicals. OPM was hit by weak performance of the VSF division. Standalone operations turn net cash positive. The company completed major expansions in VSF and caustic soda in 2HFY2022 till date which provide healthy volume growth for FY2023. Healthy demand and backward integration to support margins in midst of input cost inflation. The company receives environment clearances for a couple of land parcels for its paints venture.

Outlook

We retain a Buy on Grasim with a revised PT of Rs. 2,100 factoring downwardly revised valuation for VSF vertical.

More Info on Grasim Industries

At 09:34 hrs Grasim Industries was quoting at Rs 1,716.70, up Rs 11.25, or 0.66 percent.

It has touched an intraday high of Rs 1,718.00 and an intraday low of Rs 1,691.00.

It was trading with volumes of 3,477 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed down 0.94 percent or Rs 16.10 at Rs 1,705.45.

The share touched its 52-week high Rs 1,939.00 and 52-week low Rs 1,192.25 on 18 January, 2022 and 26 February, 2021, respectively.

Currently, it is trading 11.46 percent below its 52-week high and 43.99 percent above its 52-week low.

Market capitalisation stands at Rs 113,008.52 crore.

 

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