Motilal Oswal has recommended investors to buy shares of Vinati Organics, with a target price of Rs 2340. Currently, the market price of Vinati Organics is Rs 1885.
Vinati Organics Ltd., established in 1989, operates as a mid-cap company in the chemicals sector, with a market capitalization of Rs 19,653.97 crore.
Financial Performance
For the quarter ended March 31, 2024, Vinati Organics reported a consolidated total income of Rs 559.94 crore. This represents a 22.57% increase from the previous quarter and a 7.60% increase from the same quarter last year. The company achieved a net profit after tax of Rs 104.14 crore in the latest quarter.
Ownership Structure
As of June 30, 2024, promoters hold a 74.28% stake in Vinati Organics, while FIIs own 5.33% and DIIs hold 6.73%.
Motilal Oswal’s bullish recommendation underscores confidence in Vinati Organics’ strong financial performance and growth potential within the chemicals industry.
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