Moneycontrol
Last Updated : Nov 20, 2014 04:21 PM IST | Source: CNBC-TV18

Granules India may test Rs 1000: Devang Mehta

Devang Mehta of Anand Rathi Financial Services is of the view that Granules India may test Rs 1000.


Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "Granules India has been showing an excellent trajectory in the last 2-3 quarters and the company has gradually materialised from API to PFI to formulations business and all of these are low margins, medium margin and high margin business respectively. So, the return ratios of the company is also – if you give it a 14-15 time one year forward probably we have a price target of around Rs 1000 for this stock. So, Granules would be a dark horse if somebody wants to buy a new pharma stock."

The company's trailing 12-month (TTM) EPS was at Rs 47.71 per share. (Sep, 2014). The stock's price-to-earnings (P/E) ratio was 16.27. The latest book value of the company is Rs 168.58 per share. At current value, the price-to-book value of the company was 4.61. The dividend yield of the company was 0.45 percent.

First Published on Nov 20, 2014 04:17 pm
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