Pidilite Industries has target of Rs 183: Prakash Diwan

Pidilite Industries has target of Rs 183, says Prakash Diwan of Asit C Mehta Investment Intermediates.

Diwan told CNBC-TV18, "Pidilite Industries is not only the creator and owner of the famous Fevicol brand but is very smartly diversified into other than building and construction material and adhesives, and that has made it fairly inflationary proof of sorts, I mean the revenue stream distinctly are quite positive, we have seen a cash flow build up which has led to a very significant amount of reserves for the company."
He further added, "I would expect the company could possibly look at a bonus announcement very soon and if that happens it is going to be a great positive trigger for the stock, so that is the stock for the day target of Rs 183 and stoploss of Rs 169."