Top Stocks Today : IIFL Securities has Buy call on Eid Parry India - June 05

IIFL Securities recommends buying shares of Eid Parry India, setting a target price of Rs 750, indicating an upside potential of 4.7%. The stock's current market price is Rs 716.45. The brokerage firm believes that the company's strong financials, leadership in sugar and agro-processing industries, and focus on sustainable practices make it an attractive investment opportunity.

About Eid Parry India:

EID Parry India Ltd. is a diversified company with operations in sugar, fertilisers, agri-inputs, bio-products, and retail. It is the flagship company of the Murugappa Group and is one of the largest sugar producers in India. The company has a network of 19 sugar factories and 5 distilleries across India and it also has a presence in the fertiliser industry through Coromandel International, a joint venture with the Tata Group. In addition, EID Parry is involved in the production and distribution of agri-inputs, bio-products, and retail products through its subsidiaries and joint ventures.

52 Week Price Trend:

Eid Parry India, with a current market price of Rs 716.45, has experienced a significant gain since its 52-week low of Rs 433.2. However, it is still below its 52-week high of Rs 663.75, suggesting potential for further growth. Investors may consider monitoring market conditions and the company's performance to make informed trading decisions.

Stratzy's MOST Analysis:

EID Parry's BB- rating from Stratzy's MOST framework indicates medium fundamental risks. This assessment is based on the company's performance in four key areas: Management, Outlook, Safety, and Trend. The framework assigns scores in each area, with higher scores indicating lower risk. EID Parry's BB- rating suggests that while the company has some strengths, there are also areas where it could improve its risk profile.

Company's Fundamentals:

Eid Parry India (NSE: EIDPARRY) is an Indian conglomerate primarily engaged in sugar, distillery, and renewable energy sectors. As of the latest available data, the company's stock PE ratio stands at 13.04, indicating that investors are willing to pay 13 times the company's annual earnings per share for its stock. The PB ratio of 1.68 suggests that the stock is trading at a price that is 1.68 times its book value, which measures the company's assets minus its liabilities. Additionally, the dividend yield of 1.51% implies that investors receive an annual dividend payment equal to 1.51% of the current stock price.

Fundamental and Technical information provided in this blog were last updated on 05 Jun, 2024

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