JB Chemicals may touch Rs 450: Aashish Tater

Aashish Tater of FortuneWizard.com told CNBC-TV18, "We have been very fortunate to identify Aurobindo Pharma at Rs 155 and Wockhardt at Rs 135. We have been just trying to find the story and what I learnt from my research was that when a company starts focussing on the business and product development and enters new geographies the margin delta that expands is very high and this is one proven management.""They hived off their business in 2011, now they have again scaled back their opportunities to Rs 1,000 crore sales which they used to do in 2011. Now if you see the market cap, roughly 40 percent is in their cash. So, you are getting a Rs 1,000 odd crore sales company at somewhere around Rs 2,300 crore adjusted at around 1.3 - 1.4 times sales. So, there is a tremendous opportunity in terms of rerating.""The second trigger that I feel is going to be very big for JB Chemical is that ANDA approval that we see for this year at 6-7 approval coming and the new geographies that the company is targeting at. So, there is lot of exciting things happening in this particular company and we again have a four figure target on this stock from a longer term perspective but for this fiscal we have a target of Rs 450 backed by Rs 600 from the next 8-12 months perspective. So, that is being conservative but we think this is another stock that we feel will be a stock to watch for 2016," he said.