Accumulate Jyothy Labs: Parag Parikh

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Parag Parikh Research has recommended accumulate rating on Jyothy Laboratories , in its February 08, 2010 research report.

"Last week, Jyothy Laboratories Ltd. (JLL) announced an agreement with DRDO (Defense Research & Development Organization) for a mosquito repellant product. DRDO has a special mosquito repellant which is at present used specifically for the protection of military personnel. Keeping in mind the various mosquito related life-threatening diseases spreading across the country, DRDO now wants to make this product available for the masses."

"At the CMP of Rs.161.05, the stock trades at 15.9x FY10E and 12.8x FY11E. Our view is that, with these favorable developments happening in the core business alongwith caution being observed on the JFSL front, the Company is poised strongly for the years ahead. We recommend an Accumulate."

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