Buy Granules India; target of Rs 160: Motilal Oswal
Motilal Oswal is bullish on Granules India has recommended buy rating on the stock with a target price of Rs 160 in its research report dated January 30, 2017.
GRAN trades at 10x FY19E EPS. We believe the stock has the potential deliver >50% return over next 12-18 months, led by multiple re-rating (to >15x forward earnings) and strong EPS CAGR of 30%. Our TP of INR 160 is based on 16x 1HFY19E PER.
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