Buy Visaka Industries; target of Rs 300: Centrum
Centrum is bullish on Visaka Industries has recommended buy rating on the stock with a target price of Rs 300 in its research report dated February 14, 2017.
Centrum's research report on Visaka Industries
We expect ACS’ profitability to remain strong benefiting from good monsoon led demand uptick and subdued fibre cost. We expect CBP profits to rebound on steady domestic sales and as exports bottoms out in FY17. The capacity increase in its yarn segment should drive segmental profit. We expect VIL to deliver 16%/35% EBITDA/PAT CAGR during FY16-18, boosting its return ratios ahead of its peers’. We reiterate BUY with revised TP of Rs 300.
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