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Last Updated : Nov 11, 2019 04:46 PM IST | Source: Moneycontrol.com

Buy V-Guard Industries target of Rs 285: Sharekhan

Sharekhan is bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 285 in its research report dated November 07, 2019.

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Sharekhan's research report on V-Guard Industries


V-Guard posted strong net earnings growth of 50% y-o-y led by improvement in OPM (favorable commodity & currency, higher in house manufacturing and price hikes across products). V-Guard’s focus areas will be increasing non-South presence, expansion into adjacencies and improving efficiencies. 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 revised PT of Rs. 285 factoring improvement in OPM, gradual recovery in consumer demand and favorable commodity prices.

For all recommendations report, click here

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First Published on Nov 11, 2019 04:46 pm
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