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Sell Piramal Enterprises, target Rs 1,650: Kunal Bothra

Independent analyst Kunal Bothra has a sell call on Piramal Enterprises Ltd. with a target price of Rs 1650. The current market price of Piramal Enterprises Ltd. is Rs 1724.2. Time period given by the analyst is Intra Day when Piramal Enterprises Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 1730. Piramal Enterprises Ltd., incorporated in 1947, has a market cap of Rs 34285.14 crore.

Piramal Enterprises Ltd. key Products/Revenue Segments include Pharmaceuticals which contributed Rs 1818.24 Crore to Sales Value (49.52 % of Total Sales), Interest which contributed Rs 1315.82 Crore to Sales Value (35.83 % of Total Sales), Sale of services which contributed Rs 292.15 Crore to Sales Value (7.95 % of Total Sales), Income From Financial Services which contributed Rs 113.89 Crore to Sales Value (3.10 % of Total Sales), Other Operating Revenue which contributed Rs 71.05 Crore to Sales Value (1.93 % of Total Sales), Dividend which contributed Rs 60.04 Crore to Sales Value (1.63 % of Total Sales) and Processing Charges which contributed Rs .21 Crore to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 3603.56 Crore, up 2.78 % from last quarter Sales of Rs 3506.25 Crore and up 14.61 % from last year same quarter Sales of Rs 3144.10 Crore Company has reported net profit after tax of Rs 457.98 Crore in latest quarter. The company’s top management includes Dr.R A Mashelkar, Dr.(Mrs.)Swati Piramal, Mr.Ajay Piramal, Mr.Anand Piramal, Mr.Deepak M Satwalekar, Mr.Gautam Banerjee, Mr.Keki Dadiseth, Mr.Narayanan Vaghul, Mr.S Ramadorai, Mr.Siddharth Mehta, Mr.Vijay Shah, Ms.Arundhati Bhattacharya, Ms.Nandini Piramal, Prof.Goverdhan Mehta. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2019, the company has a total of 198,846,630 shares outstanding.

Source: Economic Times