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Buy Sutlej Textile; target of Rs 369: Fairwealth Securities
Fairwealth Securities is bullish on Sutlej Textiles and Industries and has recommended buy rating on the stock with a target of Rs 369 in its September 9, 2010 research report.
Fairwealth Securities is bullish on Sutlej Textiles and Industries and has recommended buy rating on the stock with a target of Rs 369 in its September 9, 2010 research report.
"Sutlej Textiles and Industries (STIL) made an expansion of 31104 spindles at Kathua unit to manufacture cotton melange and cotton blended dyed yarn. This was completed and the commercial production commenced from May 1, 2009. It has commercialized a 12-mw thermal power plant at Bhawanimandi unit. This investment will ensure a steady supply of quality power in this energy-intensive industry. At Current market price of Rs 255, the stock is available at P/E of 6.21x of its FY11E earnings, and 5.05x of its FY12E earnings. We recommend BUY with target price of Rs 369, given that company's future shows potential," says Fairwealth Securities research report.
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