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    Buy ITD Cementation India, target price Rs 68: HDFC Securities

    Synopsis

    ITD Cementation India Ltd., incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 860.66 Crore) operating in Construction sector.

    Buy-Sell---ThinkStockThinkStock Photos
    Promoters held 46.64 per cent stake in the company as of March 31, 2020, while FIIs held 6.77 per cent, DIIs 24.76 per cent and public and others 21.83 per cent.
    HDFC Securities has given buy rating ITD Cementation India with a target price of Rs 68. The share price moved down by 2.53 per cent from its previous close of Rs 51.45. The stock’s last traded price is Rs 50.15.

    ITD Cementation India Ltd., incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 860.66 Crore) operating in Construction sector.

    Financials
    For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 399.43 Crore, down 45.99 % from last quarter Sales of Rs 739.61 Crore and down 43.31 % from last year same quarter Sales of Rs 704.64 Crore. The Company reported net profit after tax of Rs -18.18 Crore in latest quarter.
    ITD-graph

    Investment Rationale
    The brokerage maintains BUY on ITD with an unchanged target price of Rs 68/sh, (1) given large order book (~4.4x FY20 revenue), (2) strong balance sheet and (3) bottom valuation (6.8x 2 yr fwd EPS).

    Promoter/FII Holdings
    Promoters held 46.64 per cent stake in the company as of March 31, 2020, while FIIs held 6.77 per cent, DIIs 24.76 per cent and public and others 21.83 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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