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Last Updated : Dec 16, 2019 12:54 PM IST | Source: Moneycontrol.com

Buy V-Guard Industries target of Rs 285: Sharekhan

Sharekhan bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 285 in its research report dated December 13, 2019.

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Sharekhan's research report on V-Guard Industries


Weakness in the macro environment highlighted through decline in IIP, capital goods production and consumer durable production during August to October 2019 has put pressure on the valuation of the capital goods sector. V-Guard’s multi pronged strategy of increasing non-South presence, expansion into adjacencies and improving efficiencies to help achieve targeted revenue growth guidance for FY2020. A strong cash position may lead to inorganic expansion at favorable valuation considering weak environment.


Outlook


We retain Buy on V-Guard Industries Limited (V-Guard) with an unchanged PT of Rs. 285 with a recent correction providing opportunity to invest factoring gradual recovery in macro environment and consumer demand.


For all recommendations report, click here


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First Published on Dec 16, 2019 12:54 pm
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