Moneycontrol Be a Pro
Get App
Last Updated : Aug 23, 2017 03:44 PM IST | Source: Moneycontrol.com

Buy Nitin Spinners; target of Rs 180: East India Securities

East India Securities is bullish on Nitin Spinners has recommended buy rating on the stock with a target price of Rs 180 in its research report dated August 14, 2017.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

East India Securities' research report on Nitin Spinners

Nitin Spinner sales increased 48.4% YoY Rs 2.8 bn.The utilisation levels continue to remain high at 94-95% in yarns and 85% in fabrics. Sales growth would have been much higher if the business sentiments would not have been impacted due to GST.

Outlook

We believe that Nitin will be able to register a revenue, EBITDA and PAT CAGR of 16.7% ,23.3% and 17.1% over the next two years. We maintain our target P/E multiple of 10.5x and arrive at new target price of 180 based on FY19E EPS . We upgrade rating to BUY from Accumulate.

Close

For all recommendations report, 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.



Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Aug 23, 2017 03:44 pm
Loading...
Sections
Follow us on
Available On
Trusted By 1cr Families
Medlife Health Comes Home