Shah told CNBC-TV18, "We have a price target of Rs 190 on Gujarat Alkalies and Chemicals. The industry has come off from the bottom with a very strong improvement towards the late part of March quarter in ECU realizations and we think they will continue to enjoy healthy ECU realization prices even in June quarter and going forward. That should lift the stock further."
He further added, "It continues to trade maniple discount to its book value, 0.7 times price to book. We do think that it can over time trade up to at least 1 time book. That is why Rs 190 is our price target on Gujarat Alkalies."
