Kotak Securities recommended accumulate rating on VIP Industries with a target price of Rs 570 in its research report dated 06 Aug 2018.
Kotak Securities' research report on VIP Industries
Multi quarter super performance – VIP Industries has reported its strongest quarter in the history of the company. The strength of the performance indicates strong volume growth in a seasonally strong quarter for the company, improvement in realisations with pass through of raw material price inflation and sustained efforts by the company to improve its performance.
Outlook
The stock has run by more than 30% since our last update, but still offers upside owing to its continued strong performance. We now Recommend an ACCUMULATE for this high growth stock with an increased TP of Rs 570 (from Rs450) at 40x FY20E (increased from 35x).
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