Buy Century Plyboards: target of Rs 360: Sharekhan
Sharekhan is bullish on Century Plyboards has recommended buy rating on the stock with a target price of Rs 360 in its research report dated March 26, 2021.
March 30, 2021 / 01:44 PM IST
Sharekhan's research report on Century Plyboards
Demand for wood panel industry remains buoyant driven by domestic consumption, declining imports and rising exports of furniture. The rise in key inputs costs have led by multiple price hikes which may continue for some time. Pressure on unorganised sector to benefit in terms of market share gains. Plans of brownfield and greenfield expansion in MDF along with equipment re-balancing to enhance capacities of Plywood, laminates and particle board to aid in capturing high demand.
We retain a Buy on Century Plyboards Limited with a revised PT of Rs. 360, as we see further room for an upside, given a strong demand outlook and healthy balance sheet.
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