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Budget 2021

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Reduce V-Mart Retail; target of Rs 1692: CD Equisearch

CD Equisearch recommended reduce rating on V-Mart Retail with a target price of Rs 1692 in its research report dated August 26, 2020.

August 27, 2020 / 02:07 PM IST
 
 
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CD Equisearch's research report on V-Mart Retail


Clothing, dining out and grocery retail industry will take about a year to recover, said top industry associations - Retailers Association of India (RAI), National Restaurant Association of India (NRAI) and Clothing Manufacturers Association of India (CMAI) in StoRAI, the official magazine of RAI, published in June 2020. The three associations jointly anticipates a 25-30% impact on business with multiplier effect on dependent industries and lasting job losses, while emphasizing on an immediate survival plan. Selling piled-up inventory as soon as malls and stores reopen followed by increasing productivity at the factories would be key to recovery for apparel manufacturers in post Covid era.



Outlook


We have cut our earnings estimate for FY21and thus recommend ‘reduce’ rating on the stock with target price of Rs 1692 (previous target Rs 1360) based on 50x FY22e EPS of Rs 33.83.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 27, 2020 02:07 pm

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