Jul 17, 2017 04:54 PM IST | Source:

Accumulate Page Industries; target of Rs 17,860: Dolat Capital

Dolat Capital is bearish on Page Industries has recommended accumulate rating on the stock with a target price of Rs 17,860 in its research report dated July 14, 2017.

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Dolat Capital's research report on Page Industries

Despite demonetisation, Page Industries witnessed revenue growth of 18.7% YoY to Rs 21,321mn in FY17. Implementation of GST will enable a shift from highly unorganized innerwear market leading to promising growth outlook for the organised market. Moreover, GST at 5% (for apparel below Rs 1,000) is expected to have a positive impact on Page Industries’ volume  growth and market position since  a majority of its products  are  priced below  Rs 1,000 per piece. Page Industries with its strong brand recall of Jockey is expected to lead the market shift towards organised and premium innerwear segment.

The company’s strong in-house product development and manufacturing expertise combined with a very strong distribution network will support healthy sales growth and profitability in the coming years. Recommend Accumulate with a TP of Rs 17,860.

For all recommendations report, click here

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