Nirmal Bang recommended hold rating on Granules India with a target price of Rs 151 in its research report dated February 08, 2017.
Nirmal Bang's research report on Granules India
As expected earlier FY17 is turned out to be a year of consolidation. However we expect growth to come back from FY18 onwards on back of increased capacities, commercialization of Omnichem JV. We have assigned a multiple of 18x FY18E earnings and based on that we recommend HOLD on the stock for price target of Rs 151.
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