3556 Investors following Balmer Lawrie. Share this News with them.
0
Like this story, share it with millions of investors on M3
Accumulate Balmer Lawrie, target of Rs 675: Hedge Equities
Hedge Equities has come out with a research report on Balmer Lawrie. The research firm has recommend accumulation of the stock with targets of Rs 675 and Rs 740 for a 1-2 year time horizon.
Hedge Equities has come out with a research report on Balmer Lawrie . The research firm has recommend accumulation of the stock with targets of Rs 675 and Rs 740 for a 1-2 year time horizon.
The report says, "The firm is a zero debt firm, having eradicated all debt in FY09 (Debt equity ratio was reduced from 0.83 in FY04 to 0 in FY09). Not having to make any interest payments will serve the company well in the near future and it also makes any future acquisitions for the company much easier. Even though there is likely to be a decline in sales for FY10 (due to a slow recovery in tourism and foreign trade sector which are the main growth drivers), the performance in FY11 is expected to pick up as the company is well positioned in each segment and it will also be aided by macro-economic conditions that are conducive for growth and expansion. Based on the FY11E earnings and FY12E earnings we recommend accumulation of the stock with targets of Rs 675 and Rs 740 for a 1-2 year time horizon."
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
