Buy Camlin on declines: Aashish Tater

Buy Camlin on declines, says Aashish Tater, Head of Research, Fort Share Broking.

Tater told CNBC-TV18, "Camlin is available right now at 33% of what the foreign promoter actually offered for the company. By the same multiple, 15-25% on a conservative side the stock could go and test Rs 26 to Rs 28 mark, which would definitely warrant a buy from a longer-term perspective. Now the company on a joint venture basis is targeting sales of approximately Rs 1,000 crore within four years that is roughly two-and-half times its current sales."
He further added, "Here is a company where the balance sheet clean up is done, there is almost everything from the foreign promoter, including all the technological expertise they are going to integrate their operational strength with the company