ICICI Securities Recommends Building Materials Sector Stock For 61% Return, Buy

ICICI Securities has recommended investors to buy mid cap building materials sector stock, Century Plyboards (India) Ltd with target price of Rs 758 apiece. Current market price of Century Plyboards is Rs 472.40 apiece with intraday fall of 1.47%. If you buy Century Plyboards (India) now, you can get potential return of 61%. Check details below:

Century Plyboards (India) Stock Performance: Current market price of Century Plyboards (India) is Rs 472.40 apiece with 52-week high at Rs 749.00 apiece and 52-week low at Rs 466.05 apiece, respectively. Its market capitalisation is Rs 10,495.45 crore.

Century Plyboards (India) Return & Financial Performance: The stock declined 29% in last 1-year, gave 319% return in last 3-years, and rallied 48% in last 5-years. The stock delivered 59% return in last 2-years. The company for the quarter ended December 31, 2022 declared a consolidated total income of Rs 889.01 crore, down 4.30% from last quarter total income of Rs 928.97 crore. It declared its net profit after tax at Rs 82.35 crore in the latest quarter.

Valuation: According to ICICI Securities, "Timber cost remains elevated and will likely keep margins subdued in the near term. CPBI faces near-term demand (due to inflationary environment) and margin headwinds (due to increased cost of timber). Maintain estimates and BUY with an unchanged Mar'24 target price of Rs 758."

About Century Plyboards (India): Century Plyboards (India) came into existence in 1982. It is a leading manufacturer of plywood and decorative veneers. Its manufacturing facility is located at Bishnupur near Joka, Kolkata. It is the largest seller of plywood and decorative veneers in the Indian organized plywood market.

Disclaimer: The stock has been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.