EID Parry can touch Rs 350-360: PN Vijay

EID Parry can touch Rs 350-360 in the next 12-15 months, says PN Vijay, Portfolio Manager.

Vijay told CNBC-TV18, "EID Parry is a very old and established company of Chennai. It is the flagship company of the Murugappa group. In the last quarter they had an excellent operational performance. Their topline went up by more than 40% and the bottomline also went up by a similar amount. They are essentially into sugar. They are a multi location company having 6-7 locations in Tamil Nadu and adjoining states."
He further added, "Sugar has performed extremely well and realisations for them have also gone up from about Rs 26 to Rs 28 albeit by strong exports, which the government has loosened up. The co-generation also has done well. The trigger in EID is its 64% holding in Coromandel Fertilizer."
"The marketcap of EID