Sharekhan is bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 215 in its research report dated June 02, 2020.
Sharekhan's research report on V-Guard Industries
V-Guard reported lower-than-expected earnings on account of loss of revenue during the second half of March 2020, which is a peak period affected by nation-wide lockdown led by COVID-19 pandemic. Management expects the situation to normalise over a few months along with working capital improvement. Management is focusing on maintaining healthy cash position, cost rationalisation, and expediting digitisation. The company’s strong balance sheet, reputed brand, and strong business fundamentals will help emerge stronger from the near-term weak environment.
We retain Buy on V-Guard Industries Limited (V-Guard) with a revised PT of Rs. 215 considering attractive valuation, strong balance sheet, reputed brand, and strong business fundamentals.
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