Banco Products has target of Rs 86.60, says Ashish Tater of Fort Share Broking.
Tater told CNBC-TV18, "Banco Products closed around Rs 81.50 odd mark and we still feel fundamentally this stock is undervalued by 15 % odd. I am playing for an intraday target of Rs 86.60 on to the stock."
He further added, "This is one of the premium players in the gasket segment and I feel the stock could achieve intraday target as well as our fundamental target of close to Rs 90, on an estimated EPS of Rs 9.50, on a consolidated basis, discounting it by a PE multiple of less than 10 times for next fiscal."
