Being one of the leading companies in the packaging space, coupled with the right technology, market vigilance, road map to growth; we are positive on the future outlook of the company and thereby initiate Buy on the stock with the target price of Rs320 over a 12 months horizon.
Indian equity markets saw a volatile session as indices increased considerably in the first half but still ended in the red. They had initially gained on positive global cues after U.S. and China progressed in their trade talks
With the government initiatives been taken across all the key industries for the overall economic boost, the company stands strong to benefit from the same. Also at the company level, there are various plans chalked by the company that should help it scale its business as well as reach across different industries. With the conviction remaining intact we re-initiate coverage on the stock with a target price of Rs150.
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