Buy JK Paper, target price Rs 370: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on JK Paper Ltd. with a target price of Rs 370. The current market price of JK Paper Ltd. is Rs 344.7. Time period given by analyst is Intra Day when JK Paper Ltd. price can reach defined target.

JK Paper Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 5838.45 Crore) operating in Paper sector.

JK Paper Ltd. key Products/Revenue Segments include Paper & Paper Boards, Other Operating Revenue for the year ending 31-Mar-2021.

Financials

For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1056.41 Crore, up 7.83 % from last quarter Total Income of Rs 979.74 Crore and up 37.12 % from last year same quarter Total Income of Rs 770.45 Crore. Company reported net profit after tax of Rs 151.05 Crore in latest quarter.

Investment RationaleStrong momentum from the last six weeks and fresh breakout is seen with higher base in price.

Promoter/FII Holdings Promoters held 49.52 per cent stake in the company as of 31-Dec-2021, while FIIs owned 3.89 per cent, DIIs 2.52 per cent.