Century Enka has target of Rs 223.50: Tater

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Century Enka has target of Rs 223.50: Tater

Century Enka has target of Rs 223.50, says Ashish Tater, Fort Share Broking.

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Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashish Tater See what other Experts & Brokerages are saying about Century Enka See messages about Century Enka Century Enka BSE | NSE 01/06/12 Are Mutual Funds betting on Century Enka?

Century Enka has target of Rs 223.50, says Ashish Tater, Fort Share Broking.

Tater told CNBC-TV18, "Century Enka is one stock which we have recommended our clients as a part of another 40%  upside from current levels. Its one of the premium players in the nylon tyre cord fabrics and we feel they would perform  well even for the next fiscal. We expect almost 40% jump in their bottomline without having any dilution in terms of debt  or even equity."

He further added, "They have got strong cash flows to fund their capacity expansion and their recent announcement on  nylon tyre cord capacity addition of 7,500 tonne, we expect they would add close to 14% of sales and approximately  20-25% in terms of bottom line for next fiscal. We have a target of Rs 300 in the longer term. However, I am playing for  a target of Rs 223.50."