Buy ICI India, target of Rs 622: Sharekhan

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Buy ICI India, target of Rs 622: Sharekhan

Sharekhan has maintained its buy rating on ICI India with a target price of Rs 622. At the current market price of Rs534, the stock is trading at 18.1x (net of cash on books) its FY2010E core earnings per share (EPS) of Rs 17.4.

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Sharekhan has maintained its buy rating on ICI India with a target price of Rs 622 in its June 26, 2008 research report. "At the current market price of Rs534, the stock is trading at 18.1x (net of cash on books) its FY2010E core earnings per share (EPS) of Rs 17.4. We maintain our Buy recommendation with a price target of Rs 622," says Sharekhan's research report.

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