Buy Banswara Syntex; tgt of Rs 175: Fairwealth Securities

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Buy Banswara Syntex; tgt of Rs 175: Fairwealth Securities

Fairwealth Securities is bullish on Banswara Syntex and has recommended buy rating on the stock with a target of Rs 175, in its October 23, 2010 research report.

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Fairwealth Securities is bullish on  Banswara Syntex  and has recommended buy rating on the stock with a target of Rs 175, in its October 23, 2010 research report.

"Banswara Syntex Limited is a 34 year old vertically integrated textile company. The company's business profile includes spinning, weaving & processing and garmenting. It manufactures man-made synthetic blended yarn, all type of suitings and Jacquard Furnishing and technical fabrics. BSL also produces Readymade Garments and made-ups."

"At the current price of Rs 136, the stock is trading at 3.73x and 2.62x of our estimated FY11E & FY12E earnings. We thus recommend a buy with a
Price target of Rs 175," says Fairwealth Securities research report.

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.

To read the full report click on the attachment