KR Choksey is bullish on Granules India has recommended buy rating on the stock with a target price of Rs 145 in its research report dated January 31, 2017.
Granules has embarked on a journey of high growth and margin sustainability, we expect revenue and earnings CAGR of around 13% and 23% respectively over FY16-18E. We maintain our rating of ‘BUY’ and reduce our target price to INR 145 (earlier INR 160; we enhance our multiple from 17x to 18x on account of the multiple levers of growth).
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