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Last Updated : Jul 04, 2019 03:59 PM IST | Source: Moneycontrol.com

Accumulate Essel Propack; target of Rs 155: CD Equisearch

CD Equisearch recommennded accumulate rating on Essel Propack with a target price of Rs 155 in its research report dated dated July 04, 2019.

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CD Equisearch's research report on Essel Propack


The boom in the global packaging sector hinges on both the growth in the global economy as well as the performance of the diverse range of industries that this sector caters to – pharmaceuticals, food & beverages, cosmetics, and other consumer goods. Additionally, exponentially expanding e-commerce market and rising demand for packaged foods have a direct bearing on the packaging sector. The FMCG business across categories of Beauty and Cosmetics, Foods, Homecare and Oral care constitutes a multitrillion dollar market globally and continues to grow in many different ways. In the developing economies, growth is powered by increasing young population, growing disposable income, lifestyle changes etc.


Outlook


Weighing odds, we advise accumulating the stock with the revised target price of Rs 155 (previous target Rs 140 (adjusted for bonus)) based on 20x FY21e EPS of Rs 7.76 over a period of 9-12 months.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Jul 4, 2019 03:59 pm
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