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The firm has set a target price of Rs 168 on the stock in its recent report. The firm has highlighted the following:
1) At the current market price of Rs.152.80, the stock P/E ratio is at 15.56 x FY14E and 12.98 x FY15E respectively.
2) Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.9.82 and Rs.11.78 respectively.
3) Net Sales and PAT of the company are expected to grow at a CAGR of 46% and 47% over 2012 to 2015E respectively.
4) On the basis of EV/EBITDA, the stock trades at 10.73 x for FY14E and 9.29 x for FY15E.
Price to Book Value of the stock is expected to be at 1.75 x and 1.54 x respectively for FY14E and FY15E.
5) We recommend ‘BUY' in this particular scrip with a target price of Rs. 168.00 for Medium to Long term investment.
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