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Buy Vardhman Textiles; target of Rs 345: ICICI Direct

ICICI Direct is bullish on Vardhman Textiles recommended buy rating on the stock with a target price of Rs 345 in its research report dated January 31, 2023.

February 02, 2023 / 03:32 PM IST
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ICICI Direct's research report on Vardhman Textiles

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the textile value chain. Vardhman is among few textile companies that have been able to maintain a debt equity ratio below one despite continuous capacity addition • Healthy cash flows have enabled VTL to maintain reasonable debt levels.


We change our rating on the stock from HOLD to BUY as we believe that the negatives are already priced in. We value VTL at Rs 345 i.e. 8x FY24E earnings.

For all recommendations report, click here

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Vardhman Textiles - 01 -01-2023 - ic

Broker Research
first published: Feb 2, 2023 03:32 pm