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Last Updated : Aug 04, 2020 05:49 PM IST | Source: Moneycontrol.com

Buy Kewal Kiran Clothing; target of Rs 1052: Anand Rathi

Anand Rathi is bullish on Kewal Kiran Clothing has recommended buy rating on the stock with a target price of Rs 1052 in its research report dated July 30, 2020.

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Anand Rathi 's research report on Kewal Kiran Clothing


The steep decline in Kewal Kiran’s Q1 FY21 figures was inevitable. Its liquidity, however (`2,284m in cash and equivalents), and virtually zero debt place it comfortably to ride out the storm in the near term. We expect its healthy balance sheet to continue.


Outlook


We retain our Buy rating, with a lower target price of `1,052 (earlier `1,087) at 12x FY22e EV/EBITDA.


For all recommendations report, click here


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First Published on Aug 4, 2020 05:49 pm
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