ICICI Direct has buy call on with a target price of Rs 75. The current market price of Filatex India Ltd. is Rs 68.05.
Filatex India Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 1500.46 Crore) operating in Textiles sector.
Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 723.39 Crore, up 42.05 % from last quarter Total Income of Rs 509.25 Crore and down 2.13 % from last year same quarter Total Income of Rs 739.17 Crore. Company reported net profit after tax of Rs 66.04 Crore in latest quarter.
Investment Rationale
The brokerage expects the stock to continue with its current positive momentum and head towards Rs 75 levels as it the 123.6% external retracement of the recent breather (Rs 72 to 55) placed at Rs 75 levels.
