Buy V-Guard Industries; target of Rs 311: Sharekhan
Sharekhan is bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 311 in its research report dated February 04, 2021.
February 09, 2021 / 10:33 PM IST
Sharekhan's research report on V-Guard Industries
V-Guard reported strong revenues and operating margins leading to 79.6% y-o-y growth in net profit which remained better than estimates. Management expects to get back on to the growth path with a rebound in business environment and highlighted that demand drivers remain healthy across businesses. Expect summer products to come back strongly with some pent-up demand. The company’s strong balance sheet, cash flow and reputed brand along with strong business fundamentals provide comfort in the present environment.
We retain Buy on V-Guard Industries Limited (V-Guard) with a revised PT of Rs. 311, considering its improving business operations.
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