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Buy D P Abhushan; target of Rs 120: Arihant Capital

Arihant Capital is bullish on D P Abhushan has recommended buy rating on the stock with a target price of Rs 120 in its research report dated September 23, 2020.

September 23, 2020 / 12:26 PM IST
 
 
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Arihant Capital 's research report on D P Abhushan


We had initiated coverage on D P Abhushan Ltd (DPAL) with ‘Buy’ rating on 2nd July 2020 with CMP of Rs 59 & price target of Rs 92 which got achieved on 3rd September 2020. Recently, we have attended Annual General Meeting (AGM) of the Company through Video Conferencing (VC). Below are the some key takeaways from the meeting.


Outlook


We now value the stock at PE of 13x (10x earlier) to its FY22E EPS of Rs 9.2 and arrive at a target price of Rs 120 (earlier Rs 92) while maintaining our estimates and Buy rating.


For all recommendations report, click here


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first published: Sep 23, 2020 12:26 pm

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