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    HomeNewsBusinessStocksAccumulate Pidilite Inds; target Rs 600: Kotak Securities

    Accumulate Pidilite Inds; target Rs 600: Kotak Securities

    Kotak Securities is bullish on Pidilite Industries and has recommended accumulate rating on the stock with a target price of Rs 600, in its research report dated January 30, 2015.

    February 05, 2015 / 18:24 IST

    Kotak Securities' report on Pidilite Industries

    "PIL reported Q3FY15 results in line with our estimates. Price hike taken in the later part, softening of key input prices and lower advertising expense led to operating margin expansion. Margins in international business remained subdued. We increase FY16 estimates to build higher operating margin due to fall in input prices. We roll forward estimates on FY17 and value PIL stock at 30x FY17E earnings. We maintain our ACCUMULATE rating (Buy on declines) on company's stock with revised target price of Rs 600 (Rs 420 earlier)", says Kotak Securities research report.

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    first published: Feb 5, 2015 06:24 pm

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