Buy ADF Foods Industries: Joshi

RELATED NEWS Buy ADF Foods; target of Rs 97.25: Joshi ALSO READ See previous views by Sharmila Joshi See what other Experts & Brokerages are saying about ADF Foods See messages about ADF Foods ADF Foods BSE | NSE 21/02/12 Are Mutual Funds betting on ADF Foods?

Buy ADF Foods Industries , says Sharmila Joshi , Co-Head PCG Sales, Emkay Global Financial Services.

Joshi told CNBC-TV18, "We did see ADF Foods going upto a slightly higher level and then correcting, so a good idea to really buy it at lower levels. A level below Rs 105 is a good level to acquire this stock."

He further added, "The company is growing in the ethnic food category. The kind of brands that they have and the positioning that they have done as well as their whole retail play, a very good and debt free company. So any body with a slightly longer term view to buying into midcaps should take a look at this stock."

ADF Foods touched an intraday high of Rs 98.00 and an intraday low of Rs 95.45. At 14:11 hrs the share was quoting at Rs 95.65, up Rs 1.25, or 1.32% with volumes of 67,140 shares. Yesterday the share closed up 1.40% or Rs 1.30 at Rs 94.40.

The company touched its 52 week high Rs 101.50 and 52 week low Rs 20.00 on 12 Mar, 2010 and 26 Mar, 2009, respectively. Currently, it is trading -5.76% below its 52-week high and 378.25% above its 52-week low. Market capitalisation stands at Rs 191.30 crore.

The company's trailing 12-month (TTM) EPS was at Rs 7.71 per share. (Dec, 2009). The stock's price-to-earnings (P/E) ratio was 12.41. The latest book value of the company is Rs 44.20 per share. At current value, the price-to-book value of the company was 2.16. The dividend yield of the company was 1.57%.