Buy West Coast Paper Mills, target price Rs 735: Axis Securities

Axis Securities has buy call on West Coast Paper Mills with a target price of Rs 735. The current market price of is Rs 651.
., incorporated in the year 1955, is a Small Cap company (having a market cap of Rs 4293.18 Crore) operating in Paper sector.
West Coast Paper Mills Ltd. key Products/Revenue Segments include Paper & Paper Boards, Cables, Scrap, Traded Goods, Export Incentives and Wind Power for the year ending 31-Mar-2022.

For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1226.99 Crore, up 9.03 % from last quarter Total Income of Rs 1125.41 Crore and up 34.54 % from last year same quarter Total Income of Rs 911.98 Crore. Company reported net profit after tax of Rs 246.12 Crore in latest quarter.
Investment Rationale
“Multi-week” resistance at 625 with huge volumes, sustaining above 20, 50, 100 and 200 SMA.4,630.

Promoter/FII Holdings
Promoters held 56.52 per cent stake in the company as of 30-Sep-2022, while FIIs owned 2.35 per cent, DIIs 7.44 per cent.
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