Buy IFB Agro, says Rajesh Agarwal

Buy IFB Agro Industries, says Rajesh Agarwal of Eastern Financers.

Agarwal told CNBC-TV18, "One can buy IFB Agro with a stop loss of Rs 138 and a target of Rs 155. This company manufactures and markets extra neutral alcohol and Indian made foreign liquor (IMFL) apart from which, a marine products division is also there. Their vodka brand Volga is one of the highest selling brands in West Bengal, Orissa and North East."

He further added, "They are also planning to launch some new brands in this region like Jubilation and Benjamin. During FY11, the debt has come down considerably to Rs 4 crore from around Rs 31 crore which again is going to add to the margins because interest costs are going to go down. It