Akzo Nobel has target of Rs 1400: Aashish Tater

Akzo Nobel India has target of Rs 1,400 from a one-and-half year perspective, says Aashish Tater, Head of Research, Fort Share Broking.

Tater told CNBC-TV18, "If you want a safe return of say 25% year-on-year, you should go and buy Akzo Nobel India. We have a target of Rs 1,400 from a one-and-half year perspective. The last time when I pushed this stock, it was hovering around Rs 710 and incidentally we booked at around Rs 960-970. There was a chaos in the market when it was reported that the management of Akzo Noble was going to merge its subsidiaries which would not be beneficial for small shareholders. Now here lies the catch. It will reverse out after looking at management interviews."
He further added, "The company is sitting on Rs 2,900 crore of marketcap with almost adjusted reserves and cash equivalent of close to Rs 1,200 crore, if I include this year