HDFC Securities, a well-known financial services firm, has issued a buy recommendation for Aarti Industries, setting a target price of Rs 639. Currently, Aarti Industries Ltd. is trading at a market price of Rs 489.05.
Aarti Industries Ltd., established in the year 1984, is a Mid Cap company with a market capitalization of Rs 17,650.32 Crore, operating within the Pharmaceuticals sector.
The key Products/Revenue Segments for Aarti Industries Ltd. primarily comprise Speciality Chemicals and Other Operating Revenue for the fiscal year ending on March 31, 2023.
For the quarter ending on June 30, 2023, the company reported a Consolidated Total Income of Rs 1414.00 Crore, indicating a decrease of -14.61% compared to the Total Income of Rs 1656.00 Crore in the preceding quarter. It’s worth noting that this figure also represents a decline of -28.31% when compared to the Total Income of Rs 1972.40 Crore reported in the same quarter of the previous year. During this quarter, the company achieved a net profit after tax amounting to Rs 70.00 Crore.
As of September 30, 2023, the promoters retained a 43.57% stake in the company, while FIIs (Foreign Institutional Investors) held 10.58%, and DIIs (Domestic Institutional Investors) held 16.14% of the company.
HDFC Securities’ buy recommendation for Aarti Industries suggests a positive outlook on the stock, indicating potential for growth and providing investors with an opportunity to consider.