Navneet Publications has target of Rs 75: DD Sharma

Navneet Publications has target of Rs 75, says DD Sharma, Senior Vice President Research, Anand Rathi.

Sharma told CNBC-TV18, "Navneet publication is a large publication house plus distribution house for the books stationary, branded stationary and branded stationary products and elite products. This is very strong company in Gujarat and Maharashtra state."

He further added, "They have relationships with almost 20,000 schools in Gujarat and Maharashtra. They are doing very well; they are cash rich company, a zero debt company. They are entering into or have rather entered into the yield earning business of also. They have sold their products in 500 schools in the FY11 and in FY12 they are likely to reach out to around 1200 schools and thereafter may be more than that may be 2000-2500 schools in coming couple of years. Therefore this company which is into the education field and stationary and elite products, I think the valuations are quite cheap although for the long term our target is Rs 90-95 but even for the short term, for this week my target is Rs 75."

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