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Buy ESS DEE Aluminium, target of Rs 205: Hem Securities

Posted on: April 7th, 2009 and is filed under Brokerage Recommendations.

Hem Securities has recommended a buy rating on ESS DEE Aluminium with a price target of Rs 205 in its April 4, 2009 research report.

“Ess Dee Aluminium Limited has recently acquired India Foils Limited, a Vedanta Group, is planning to reopen the India Foils’ Hoera plant. At Current Market Price of INR 159.30 and with FY09E EPS of INR 29.50, the stock is just trading at a low PE of 5.4x. The company has reported a robust growth rate in both the top line as well as in bottom line. The growth potential of Pharma, FMCG and Foods industry, provides a strong visibility to the revenues of the company. We are very positive on the long term business prospects of the company and are confident about its financial performance. We recommend a BUY on the company with a price target of INR 205.00 with a short and medium term investment horizon,” says Hem Securities’ research report.

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