Greaves Cotton Ltd., incorporated in the year 1922, is a Mid Cap company (having a market cap of Rs 2287.79 Crore) operating in Engineering sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 496.63 Crore, up 50.04 % from last quarter Total Income of Rs 330.99 Crore and down -5.09 % from last year same quarter Total Income of Rs 523.29 Crore. Company reported net profit after tax of Rs 20.92 Crore in latest quarter.
Investment Rationale
The stock has broken out of a channel pattern on good volumes, triggering a resumption of the uptrend. Moreover, it took the support at the trendline in the recent correction and resumed its upward journey, confirming bullishness. RSI has turned upwards closing beyond the 60-level after making a higher low, which is a sign of strength.
Promoter/FII Holdings
Promoters held 54.8 per cent stake in the company as of June 30, 2020, while FIIs held 14.3 per cent, DIIs 13.1 per cent and public and others 17.7 per cent.
