Textile Stock Showing Potential To Rise, Buy With Target Price Rs 52: KR Choksey

Kotak Securities has assigned buy call to small cap textile stock, Filatex India Ltd with a target price of Rs 52 apiece. Last trading price of Filatex is Rs 41.20 apiece. If you buy Filatex India Ltd now, it can offer you potential return of 27%. Check details below:

1. Filatex India Ltd Stock Performance & Return

The last trading price of the stock is Rs 41.20 apiece with intraday fall of 1.90%. The stock's 52-week high is Rs 69.20 apiece and 52-week low is Rs 38.10 apiece, respectively.

The company has a market capitalisation of Rs 1825.21 crore. The stock declined 8% in last 1-month, 13% in last 3-months, and 31% in last 1-year. It gave a return of 107% in last 3-years and 97% in last 5-years.

2. Filatex India Ltd Valuation

According to Kotak Securities, "We like FIL's continued focus on improvement of product mix, capacity addition and progress of recyclable polyester project. We expect growth momentum to continue in foreseeable future, however, margin is expected to remain under pressure as inflationary trend on RM prices are expected to continue. We continue with "BUY" rating on the stock with revised target price of INR 52 (Previous Target: 84) assigning a P/E multiple of 7.2x on FY24E EPS of INR 13.69."

3. Filatex India Ltd About

Filatex India Ltd is engaged in the manufacturing and distributing of several polypropylene yarns. It supplies monofilament yarns to the several companies in India and across the globe for the production of zippers, tooth brush bristles, velcro, magic fasteners, and forming fabrics.

Disclaimer

The stock has been picked from the brokerage report of KR Choksey. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.