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Buy VIP Industries; target of Rs 770: ICICI Direct

ICICI Direct is bullish on VIP Industries has recommended buy rating on the stock with a target price of Rs 770 in its research report dated July 28, 2022.

July 29, 2022 / 07:01 PM IST
 
 
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ICICI Direct's research report on VIP Industries


VIP Industries is one of Asia’s leading seller/manufacturer of various type of luggage’s, backpacks, and handbags. VIP has range of leading brands, positioned across entire price range, catering to value (Aristocrat) mid (VIP, Skybags) and premium (Carlton, Caprese) price points • Market leader in the organised luggage space (oligopoly market) • VIP has, over the years, maintained balance sheet prudence with stringent working capital policy, virtually debt free status and healthy RoCE: 30%+.


Outlook


We maintain BUY recommendation on the stock. We value VIP at Rs 770 i.e. 48x FY24E EPS.


For all recommendations report, click here

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VIP Industries - 280722 - icici

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first published: Jul 29, 2022 07:01 pm
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