Buy Sanghi Industries; target of Rs 42: Anand Rathi

Anand Rathi is bullish on Sanghi Industries has recommended buy rating on the stock with a target price of Rs 42 in its research report dated November 14, 2020.

Broker Research

December 01, 2020 / 19:09 IST

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Anand Rathi's research report on Sanghi Industries

Weak demand in its operating regions (Gujarat/Maharashtra) due to Covid-19 and the monsoon hindered Sanghi’ Q2 performance. Cost optimisation, however, brought some respite. With the Kutch expansion to commence in Q3, its ramping up amid an uncertain demand environment would be key to watch.

Outlook

We retain our Buy, with a higher TP of Rs42 (earlier Rs31), 9x FY22e EV/EBITDA.

For all recommendations report, click here

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Broker Research

first published: Dec 1, 2020 07:09 pm

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