Thursday 6 November 2008

Buy Britannia, target of Rs 1398: India Infoline

India Infoline has recommended a buy rating on Britannia Industries with a target of Rs 1398 in its November 3, 2008 research report. "Net sales beat expectations, up 27% yoy at Rs 8.4 billion in Q2 FY09 driven by 17.5% volume growth. Net profit for the quarter increased by 15.6% yoy to Rs 597 million. We expect the company to witness 11.9% CAGR in revenues and 15% CAGR in net profit over FY08-10E. The company is looking at new growth triggers like acquisitions in new categories both in India and the overseas market. Recommend BUY with a one-year price target of Rs 1,398, an upside of 19.1%, says India Infoline's research report.

Disclaimer: The views and investment tips expressed by investment experts 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.

Source: Moneycontrol

Posted by Harsh at 08:12

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.