JBF Industries can test Rs 170-175: Rahul Shah (CNBC-TV18)Published on Fri, Dec 18, 2009 at 14:49
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Published on Fri, Dec 18, 2009 at 14:49 | Updated at Fri, Dec 18, 2009 at 15:41 | Source : CNBC-TV18
JBF Industries can test Rs 170-175, says , Head of PCG, MF Global.
Shah told CNBC-TV18, "JBF Industries has a strategically located in Vapi and Daman. The suppliers as well as the consumers of JBF Industries are in the vicinity of 20 km, which gives us a price advantage.”
He further added, “The boom in the textile industries because basically they are the manmade fiber producers, could really give a topline of close to Rs 5,000 crore in FY10-11 with a close to 10-12% EBITDA margins. The stock is right now at Rs 97 and we expect the stock to move to Rs 170-175 in a year’s time because of the new capacity addition and the demand in the consumer segment.”
