Mon, Aug 05, 2013 at 09:38
Brokerage: Anand Rathi
Target: Rs 343
Rationale: Value the stock at Rs 343 at a PE of 20x Sep'14e earnings. Stable cotton prices as well as the 6 percent price hikes in Dec '12 would help to achieve 19 percent earnings CAGR over FY13-15.
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