SPA Securities is bullish on Parag Milk Foods has recommended buy rating on the stock with a target price of Rs 342 in its research report dated May 14, 2019.
Motilal Oswal is bullish on Parag Milk Foods has recommended buy rating on the stock with a target price of Rs 305 in its research report dated May 13, 2019.
While improved margin profile would be moderated by increased competitive intensity, the recent decline in stock prices offer some opportunity to keep an eye on
The fresh milk category will be under the company's Gowardhan brand.
Parag Milk Foods has reported a sales total income from operations of Rs 538.02 crore and a net profit of Rs 26.49 crore for the quarter ended Jun-2018
The Reserve Bank (RBI) has allowed non-resident Indians (NRIs) to raise their stake in Parag Milk Foods up to 24 percent from earlier limit of 10 percent.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 16 points or 0.15 percent. Nifty futures were trading around 10,725-level on the Singaporean Exchange.
Rajesh Agarwal of AUM Capital recommends buying Indian Oil Corporation with stop loss at Rs 162 and target at Rs 173, a buy in Arvind with stop loss at Rs 412 and target at Rs 430 and a buy also in State Bank of India with stop loss at Rs 245 and target at Rs 257.
"We have a buy recommendation with a target price of Rs 350, an upside of 22 percent from the current level," says Sumit Bilgaiyan, Founder of Equity99.
"We like Parag Milk Foods and expect a target of Rs 350 by year end. Long term investors can also have a slice in this company as it’s a robust play on Indian dairy industry," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
Further, he expects it to strenghten product offerings and distribution. Currently, the products that are sold in the northern part of India are supplied from the company's Manchar plant in Maharashtra.
Angel Broking is bullish on Parag Milk Foods has recommended buy rating on the stock with a target price of Rs 333 in its research report dated April 16, 2018.
JM Financial is bullish on Parag Milk Foods has recommended buy rating on the stock with a target price of Rs 330 in its research report dated March 12, 2018.
The company is India's largest private dairy with a milk processing capacity of 2 million litres per day.
The private dairy FMCG company sells products under the brand name "Gowardhan" and "Go" said it is supplying products to TajSATS since August 2017.
"Although we already export our products to several countries, this is another step to introduce our products to international customers," Shah added.
Net profit stood at Rs 12.63 crore in the same quarter last year, the company said in a regulatory filing.
The investment limit for Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in Parag Milk Foods has increased from 24 per cent to 40 per cent of its paid up capital.
In an interview to CNBC-TV18, Devendra Shah, Chairman, Parag Milk Foods spoke about the results and his outlook for the company.
The Government of India today has banned milk, milk products and confectionary from China for one year.
Any product that has milk content or is a dairy based has the potential to flourish in India, said Bharat Kedia, CFO, Parag Milk Foods.