Apr 09, 2008, 01.16 PM IST | Source: Moneycontrol.com

Buy Nestle India, target of Rs 1750: Hem Securities

Hem Securities has recommended a buy rating on Nestle India with a target of Rs 1750. The stock is trading at Rs 1557, which is at 35.88 times to its book value of Rs 43.39 and 36.27 times to its earning per share of Rs 42.92.

Hem Securities has recommended a buy rating on Nestle India with a target of Rs 1750 in its April 9, 2008 research report. "The company has come up as an undisputed leader in the processing food industry. Keeping in view the market leadership held by the company and the growing export market, in addition to the attractive product launches tailored to target a specific belt of consumers are expected to take the company towards higher levels of success".

"Presently, the stock is trading at Rs 1557, which is at 35.88 times to its book value of Rs 43.39 and 36.27 times to its earning per share of Rs 42.92. Therefore, we initiate a BUY signal on the stock at the current price level with a target of Rs 1750, in medium to long-term investment horizon, providing ample upside potential" says Hem's research report.

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