Anand Rathi is bullish on Kewal Kiran Clothing has recommended buy rating on the stock with a target price of Rs 1052 in its research report dated July 30, 2020.
Anand Rathi 's research report on Kewal Kiran Clothing
The steep decline in Kewal Kiran’s Q1 FY21 figures was inevitable. Its liquidity, however (`2,284m in cash and equivalents), and virtually zero debt place it comfortably to ride out the storm in the near term. We expect its healthy balance sheet to continue.
Outlook
We retain our Buy rating, with a lower target price of `1,052 (earlier `1,087) at 12x FY22e EV/EBITDA.
For all recommendations report, click here
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