The Economic Times daily newspaper is available online now.

    Buy Jamna Auto Industries, target price Rs 101: ICICI Direct

    Synopsis

    Jamna Auto Industries Ltd. key Products/Revenue Segments include Automobile Products & Accessories, Scrap and Interest for the year ending 31-Mar-2020.

    BuyThinkStock Photos
    Company reported net profit after tax of Rs 19.49 Crore in latest quarter.
    ICICI Direct has buy call on Jamna Auto Industries with a target price of Rs 101. The current market price of Jamna Auto Industries Ltd. is Rs 94.55. Time period given by analyst is 2 weeks when Jamna Auto Industries Ltd. price can reach defined target.

    Jamna Auto Industries Ltd., incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 3843.18 Crore) operating in Auto Ancillaries sector.

    Jamna Auto Industries Ltd. key Products/Revenue Segments include Automobile Products & Accessories, Scrap and Interest for the year ending 31-Mar-2020.

    Financials
    For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 295.79 Crore, down -39.31 % from last quarter Total Income of Rs 487.40 Crore and up 347.92 % from last year same quarter Total Income of Rs 66.04 Crore. Company reported net profit after tax of Rs 19.49 Crore in latest quarter.

    Investment Rationale
    The share price of Jamna Auto is at the cusp of breaking above last one months highs (Rs 95) as buying demand emerged at the 61.8% retracement of previous up move (| 79-95) signaling resumption of up move and offers fresh entry opportunity. Going ahead, the brokerage expects the stock to extend the current up move and head towards Rs 101 levels as it is the 161.8% external retracement of the last two weeks breather(Rs 95-84).



    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    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


    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    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
    The Economic Times

    Stories you might be interested in