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.
December 01, 2020 / 07:09 PM IST
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.
We retain our Buy, with a higher TP of Rs42 (earlier Rs31), 9x FY22e EV/EBITDA.
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