Sanwaria Agro on continuous upper circuit. Revised Target 29. Stock has more than 12 lacs share in the Bid with no offers in NSE. Share is trading at 22x. We are revising our target to 29 at 25x current quarterly Annualized EPS.
We would recommend to hold the stock until Technical weakness, Seems like the performance of the stock is likely to sustain going forward. Stock likely to post good quarterly results in the coming quarters. Looks like NHI are accumulating the stock.
We would maintain our fair price at Rs. 23 for the current Quarter.
We had recommended the stock at 13.9 before bonus issue (6.9 after adjusting bonus).
Stock is up 279% from recommended price.
Reference call:
Sanwaria Agro above target price of 21. Hold for Revised target of 25.
Source: http://gale.in/sanwaria-agro-on-continuous-upper-circuit-revised-target-29/
Gale India 