Buy Century Textile, tgt Rs 1019: HEM
HEM Securities has maintianed buy rating on Century Textile with target price of Rs 1019 in its 28, March 2008 research report. “The company with its diversified business is aggressively looking for major capacity expansion in its paper divi-sion as well as in retail segment division. Also, the company is planning to penetrate into hospitality segment by using its land of Worli mill. The stock is currently trading at p/ e multiple of 19 while the price to book value multiple of the company is cur-rently running at 5.49. Looking at the mega expansion plans of the company the stock looks good investment opportunity at present level. Hence we recommend “BUY” on the stock with the price target of Rs 1019 in medium term” sasy HEM securities research report
