Buy RSWM; target of Rs 178: SKP Securities

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Buy RSWM; target of Rs 178: SKP Securities

SKP Securities is bullish on RSWM and has recommended buy rating on the stock with a target of Rs 178 in its July 9, 2010 research report.

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SKP Securities is bullish on RSWM and has recommended buy rating on the stock with a target of Rs 178 in its July 8, 2010 research report.

"RSWM is one of the India's leading manufacturers of synthetic and blended spun and cotton yarn and fabric. RSWM has substantially invested in upgrading technology, building capacities and creating cost efficient manufacturing operation. At current market price of Rs 120, RSWM is trading at P/E of 5.4x and 4.1x of FY11E and FY12E earnings of Rs 22.4 and 29.6 respectively. We recommend BUY rating on the stock with a target price of Rs 178 (48% upside) in 12 months at the P/E of 6x on FY12 earnings," says SKP Securities research report.

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To read the full report click on the attachment