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Feb 16, 2017, 06.15 PM | Source: Moneycontrol.com

Hold Butterfly Gandhimathi; target of Rs 165: ICICI Direct

ICICI Direct recommended hold rating on Butterfly Gandhimathi with a target price of Rs 165 in its research report dated February 14, 2017.

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Hold Butterfly Gandhimathi; target of Rs 165: ICICI Direct

ICICI Direct recommended hold rating on Butterfly Gandhimathi with a target price of Rs 165 in its research report dated February 14, 2017.

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ICICI Direct's research report on Butterfly Gandhimathi

Butterfly Gandhimathi Appliances (BGAL) reported a disappointing set of Q3FY17 numbers performance on account of absence of government orders and decline in the branded sales which was hit hard by demonetisation.

Outlook

Uptick in institutional sales and improvement in margins in a highly competitive market would be critical for a re-rating of the stock. We have a HOLD recommendation with a target price of Rs 165 on the stock (based on 0.5x FY19E Market cap/sales).

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies 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 here

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Hold Butterfly Gandhimathi; target of Rs 165: ICICI Direct

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