Moneycontrol News
Research firm Edelweiss has initiated coverage with a Buy rating on Asian Granito India and set a target price of Rs 720 per share, implying a 41.55 percent potential upside from Monday's closing price. The stock gained 3 percent intraday Tuesday.
"The company is well placed to leverage its vast distribution network and strong brand equity," the research house said.
The ceramic company is prudently shifting focus to high-margin retail segment, it added.
At 12:50 hours IST, the stock price was quoting at Rs 515.05, up 1.26 percent on the NSE.
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