Jan 13, 2017 04:30 PM IST | Source: CNBC-TV18

Buy Trident on any decline, target Rs 75-85: Sanjiv Bhasin

Sanjiv Bhasin of IIFL recommends buying Trident on any decline with target of Rs 75-85.

Sanjiv Bhasin of IIFL told CNBC-TV18, "InTrident, we came out with a buy at Rs 50 and we continue to think Rs 75-85 in the short term. Obviously, you will see the disparate move because today the Nifty is slightly negative. However, this continues to be a very good play. We bought it when the market cap was close to Rs 2200 crore. I think today the market cap would be close Rs 3300 crore. However, we still think that this can be a doubler in the next two years. It is one of the best players in the textile and the furnishing space and also a very big player in the paper market." 

"It is also the largest player, it has a maximum margin in the agri based paper trade. Given where pulp prices are and the RBI printing of money for the next 2-3 years, I think paper will be in a tight spot. It is in a very sweet spot, the company is doing well and the management is very efficient. So, on any decline, you should buy, Rs 75-85 should be the target in 2017," he said.
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