Ambika Cotton Mills Ltd Research Report By Karvy

Tagged: Ambika Cotton, Karvy

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October 12, 2015 at 10:13 pm #2445

Vidhi Khanna
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At CMP of Rs. 835, Ambika Cotton is trading at a P/Ex of 7.9x and 6.6x on FY16E and FY17E earnings respectively, on the back of stable raw material prices, favorable product mix, improving cost efficiency and economies of scale; we initiate coverage on Ambika Cotton with a “BUY” rating with a target price of Rs. 1004, based on 8.0x P/E FY17E, representing an upside potential of 20.3% in a 9-12 months period.

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