Coromandel Fert has target of Rs 185: G Shah

Gaurang Shah of Geojit Financial Services is of the view that Coromandel Fertiliser has target of Rs 185.

Shah told CNBC-TV18, "Definitely given the fact that Coromandel Fertiliser is the leading manufacturer of phosphatic and complex fertlisers manufacturing company. Going forward it is got concentration on the Southern side where the agri-community has a lot of focus and acceptance of the fertilisers produced by Coromandel is by and large to a greater extent captures the market as far as the Southern side is concerned. Also given the kind of fact that the kind of requirement for the complex fertiliser is going to grow with the thrust on to the agri-commodity and the agriculture business."

He further added, "We expect that the topline and bottomline of Coromandel Fertiliser will improve to a very great extent and thereby possibly a price target of round about Rs 185 could be attainable. Also the fact that the post merger with Godavari Fertilisers And Chemicals Limited (GFCL) I think the product mix and the geographical location will stand in benefit of Coromandel Fertiliser. So we have a price target of Rs 185 with the same timeframe of 1-1.5 year."