Buy Greenply Industries; target of Rs 290: Religare

Religare is bullish on Greenply Industries has recommended buy rating on the stock with a target price of Rs 290 in its research report dated October 03, 2016.

October 06, 2016 / 17:03 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Religare's research report on Greenply Industries

GIL’s management indicated that the demand for plywood and MDF has not improved much during the quarter. Management has maintained its FY17 guidance of 109-110% capacity utilisation in plywood (partly aided by the substitution of outsourcing by in-house production of Ecotec) and 106-107% utilisation for MDF.

We remain positive on GIL given its leadership position in India’s organised plywood and MDF markets and continue to expect an earnings CAGR of 19% during FY16-FY18. We reiterate BUY with an unchanged Sep’16 TP of Rs 290. For all recommendations, 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: Oct 6, 2016 05:03 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347