In April 2019, Blackstone committed up to $460 million to acquire a majority stake in EPL
Blackstone sold 23 percent stake in Essel Propack to a clutch of investors, including Axis Mutual Fund, DSP Mutual Fund, Franklin Templeton Mutual Fund, Morgan Stanley.
The sale was carried out in a block deal on September 18, where average share price was Rs 256.5
EQ India Fund acquired 8,88,888 shares in Gati (representing 0.7 percent of its total paid-up equity) at Rs 49.45 per share on the NSE. Katkar Sanjay bought 6,88,893 equity shares in Suven Life Sciences at Rs 56.27 per share.
Epsilon Bidco Pte. Ltd, a Blackstone entity which owns 75 percent of Essel Propack, is looking to sell up to 23 percent stake representing around 72.5 million shares of the company, according to deal terms.
Even after such stellar gains amid the coronavirus pandemic, the stock looks poised to surge further owing to its secular demand and dominant market share.
Motilal Oswal is bullish on Essel Propack recommended buy rating on the stock with a target price of Rs 114 in its research report dated September 09, 2020.
Emkay Global Financial is bullish on Essel Propack has recommended buy rating on the stock with a target price of Rs 230 in its research report dated July 30, 2020.
Revenue from operations climbed 17.72 percent to Rs 741.49 crore, as against Rs 629.83 crore in the corresponding quarter of the previous fiscal while total expenses were at Rs 669.04 crore compared to Rs 591.77 crore earlier, up 13.05 percent.
CD Equisearch recommended accumulate rating on Essel Propack with a target price of Rs 230 in its research report dated July 31, 2020.
ICICI Direct is bullish on Essel Propack has recommended buy rating on the stock with a target price of Rs 270 in its research report dated August 01, 2020.
ICICI Direct recommended hold rating on Essel Propack with a target price of Rs 190 in its research report dated June 15, 2020.
Emkay Global Financial is bullish on Essel Propack has recommended buy rating on the stock with a target price of Rs 200 in its research report dated May 25, 2020.
Motilal Oswal is bullish on Essel Propack has recommended buy rating on the stock with a target price of Rs 200 in its research report dated May 23, 2020.
ESEL exports laminates from China and supplies laminated tubes to its Chinese Oral and non-oral customers.
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Net Sales are expected to increase by 8.8 percent Y-o-Y (down 0.4 percent Q-o-Q) to Rs. 691.2 crore, according to ICICI Direct.
CD Equisearch recommennded accumulate rating on Essel Propack with a target price of Rs 155 in its research report dated dated July 04, 2019.