A good latest report on Page by Motilal Oswal – “Getting into the big league” http://motilaloswal.com/Research-Research-actual.aspx?Search=14555
They label it is a long term compounder with 22% CAGR over next 8 years. I am pretty happy with that kind of returns for a core position in my portfolio. Of course if one thinks he can do better than that, then he should sell Page. Maybe at 16000 it was a partial sell, but not at current price. Any more dips will only make it more attractive.
Lot of FMCG names are at 40-50 PE with 15% kind of growth. So I dont see why Page should not get slightly more valuation for 20-25% kind of growth. Remember these business are valued highly because they offer long term secular predictability. How many brands have the “Aspirational but yet afforable” positioning?
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