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.
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
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