Finace And Stock

Buy Craftsman Automation, target price Rs 2300: Yes Securities

Yes Securities has buy call on Craftsman Automation with a target price of Rs 2300. The current market price of Craftsman Automation is Rs 2168.25.

Time period given by analyst is Intra Day when Craftsman Automation Ltd. price can reach defined target.

Craftsman Automation Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 4602.49 Crore) operating in General sector.

Craftsman Automation Ltd. key Products/Revenue Segments include Engineering, Sale of services and Other Operating Revenue for the year ending 31-Mar-2021.

For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 435.83 Crore, down -19.31 % from last quarter Total Income of Rs 540.12 Crore and up 166.50 % from last year same quarter Total Income of Rs 163.54 Crore. Company reported net profit after tax of Rs 24.02 Crore in latest quarter.

Investment Rationale
The stock has broken out of a consolidation pattern on good volumes triggering a resumption of the uptrend. Technical indicator RSI has turned upwards after taking support at the 60 level suggesting strength in the stock.

(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.

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