Moneycontrol
May 17, 2017 01:56 PM IST | Source: Moneycontrol.com

Buy Balaji Amines; target of Rs 485: Nirmal Bang

Nirmal Bang is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 485 in its research report dated May 16, 2017.

Buy Balaji Amines; target of Rs 485: Nirmal Bang

Nirmal Bang's research report on Balaji Amines


Balaji Amines Limited (BAL), set up in 1988, is a leading manufacturer of Aliphatic Amines. It specialized in manufacturing Methylamines, Ethylamines and derivatives of them. It also operates a 5 start hotel in Solapur – Balaji Sarovar, the only 5 star property in the city.


Outlook


It is consistent dividend paying company. We maintain our positive outlook given the improvement in ROCE and ROE with positive free cash flow. We recommend BUY on the stock for price target of Rs 485 (12x FY19E).


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