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Buy V-Guard Industries; Target Of Rs 211: Sharekhan

Sharekhan is bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 211 in its research report dated October 29, 2020.

Nov 2, 2020 / 03:08 PM IST
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Sharekhan's research repor on V-Guard Industries

V-Guard reported flat revenues with stable operating margins in line with estimates. Higher tax rate in Q2FY21 vs Q2FY20 and lower other income led to 12.7% decline in net profit. Management expects to get back on to the growth path with rebound in business environment and expects revenue to remain flat y-o-y in FY21 and cost saving measures initiated would aid margin expansion in H2FY21. The company’s strong balance sheet, cash flow and reputed brand along with strong business fundamentals provide comfort in the present environment.


We retain Buy on V-Guard Industries Limited (V-Guard) with an unchanged PT of Rs. 211, considering its reasonable valuations and improving business operations.

For all recommendations report, click here

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Broker Research
first published: Nov 2, 2020 03:08 pm

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