Friday, 14 November 2008

Sell Shoppers Stop, target of Rs 161: KRChoksey

KRChoksey Research has recommended a sell rating on Shoppers Stop with a target price of Rs 161 in its November 6, 2008 research report. "SSL's standalone sales grew by 23% y-o-y to Rs 334.2 crore mainly driven by increase in number of stores, conversion ratio (to 29% in Q2FY09 from 25% in Q2FY08) and average ticket size ( 5.9% y-o-y). We are estimating SSL to incur net loss of Rs 60.4 crore in FY09. We recommend a SELL to the company's stock with a target price of Rs 161," says KRChoksey's research report.

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Source: Moneycontrol

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