Accumulate India Glycols, target of Rs 464: ULJK Securities

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Accumulate India Glycols, target of Rs 464: ULJK Securities

ULJK Securities has recommended an accumulate rating on India Glycols with a target price of Rs 464 for a one year period. At the current market price, the stock trades at PE of 3.1x on FY09EPS of Rs 71.6 and PE of 2.3x on FY10E EPS of Rs 98.

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ULJK Securities has recommended an accumulate rating on India Glycols with a target price of Rs 464 in its July 1, 2008 research report. "We have arrived at a value of Rs 464 based on the EVA method. At the current market price of Rs 223, the stock trades at PE of 3.1x on FY09EPS of Rs 71.6 and PE of 2.3x on FY10E EPS of Rs 98. Given the strong fundamentals and the consistent growth in its volume, we recommend an Accumulate for the stock with a target price of Rs 464 for a one year period," says ULJK Securities' research report.

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