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Last Updated : Jan 04, 2019 03:49 PM IST | Source: Moneycontrol.com

Buy V-Guard Industries; target of Rs 264: Sharekhan

Sharekhan recommended is bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 264 in its research report dated January 03, 2019.

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Sharekhan's research report on V-Guard Industries


The stock price of V-Guard has moved up by 26% since our last update (dated: October 26, 2018) on account of improving demand environment with gradual recovery from Kerala and expected pent-up demand for wires, cables and pumps to be the key beneficiaries from replacement demand. H2FY2019 looks better with softer commodity prices (copper down 8% y-o-y), price hike across products to ease margin pressure and favourable base of summer products.


Outlook


With decent earnings visibility, we maintain our Buy rating on the stock with a PT of Rs. 264 (rolling our valuations to FY2021E earnings).


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.

First Published on Jan 4, 2019 03:49 pm
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