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Buy Cholamandalam Investment & Finance Company, target Rs 331: Arun Kumar

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Arun Kumar of Reliance Securities has a buy call on Cholamandalam Investment & Finance Company Ltd. with a target price of Rs 331.0 . The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 312.95. Time period given by the analyst is Intra Day when Cholamandalam Investment & Finance Company Ltd. price can reach defined target. Arun Kumar recommended to keep stoploss at Rs 306. Cholamandalam Investment & Finance Company Ltd., incorporated in 1978, has a market cap of Rs 24467.86 crore.

Cholamandalam Investment & Finance Company Ltd. key Products/Revenue Segments include Interest which contributed Rs 6565.26 Crore to Sales Value (93.89 % of Total Sales), Income From Sale Of Share & Securities which contributed Rs 336.29 Crore to Sales Value (4.80 % of Total Sales) and Income From Financial Services which contributed Rs 90.42 Crore to Sales Value (1.29 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 2045.23 Crore, up 7.52 % from last quarter Sales of Rs 1902.24 Crore and up 24.51 % from last year same quarter Sales of Rs 1642.67 Crore Company has reported net profit after tax of Rs 315.19 Crore in latest quarter. The company’s top management includes Mr.Arun Alagappan, Mr.Ashok Kumar Barat, Mr.M M Murugappan, Mr.N Ramesh Rajan, Mr.Rohan Verma, Ms.Bharati Rao. Company has S R Batliboi & Associates LLP as its auditors. As on 30-09-2019, the company has a total of 781,845,505 shares outstanding.

[“source=economictimes”]