Buy This Paints Stock Trading Near Its 52-Week Low For Short-Term Gains Of 24%: HDFC Securities
Buy Akzo Nobel for a target price of Rs. 2315
On Feb 21, 2022, the brokerage recommended buying on the certificate for a target price of Rs. 2315 for a period of 6 months. From the current price level of Rs. 1870.6 per share, the potential gains can reach 23.76% in the short term.
Akzo Nobel Q3fy22 results by brokerage:
For the quarter ended 31-12-2021, the company reported consolidated total revenue of Rs 919.06 Crore, up 23.55% from last quarter, total revenue of Rs 743.90 Crore and up up 17.78% from the same quarter last year, total revenue of Rs 780.35 Crore. The company reported a net profit after tax of Rs 83.82 Crore during the reporting period.
Why ‘buy’ the Akzo Nobel script?
Even amid the Covid fallout, the paints sector has shown resilience since the Q2fy21 period. Additionally, as work from home and policy initiatives to boost residential real estate have become the norm, the paints sector has seen a faster recovery than other discretionary segments. Other driving forces such as population driven growth, housing growth, shorter repaint cycle as well as premiumization will also help the business. Moreover, the company will also prove to be the biggest beneficiary in the industrial segment also due to the revival of the investment cycle.
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