Equal Weight on Cholamandalam Finance, target price Rs 1,675: Axis Securities

Axis Securities has given a target price of Rs 1,675 for Cholamandalam Investment & Finance Company, whose current market price is Rs 1,271.25. The company reported a net profit of Rs 967.13 crore in the latest quarter. Promoters hold a 50.24% stake. The company aims for pre-tax RoTA of 3.5% over the medium term.