Buy Astral Poly Technik; target of Rs 2100: Sharekhan
Sharekhan is bullish on Astral Poly Technik has recommended buy rating on the stock with a target price of Rs 2100 in its research report dated February 03, 2021.
February 09, 2021 / 10:49 PM IST
Sharekhan's research report on Astral Poly Technik
\In Q3, the company reported better-than-expected performance along with sharp expansion in operating margins. Demand momentum accelerated in Q3 for both pipes and adhesives. Long term outlook for pipes and adhesives remains healthy. A sharp increase in PVC price a concern. Expansion plans on track to maintain growth. Board recommends bonus issue of 1:3.
We downgrade Astral Poly Technik (Astral) to hold with a revised price target of Rs. 2,100 owing to unfavourable risk-reward ratio awaiting a better entry point.
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