Price target: Rs. 520 | Upside: 23%
The lead opalware maker in the country is the latest pick for Centrum Broking, which initiated coverage on the stock with a “buy” rating. Centrum Broking expects the company's revenues to double in the coming years as the new 11,000-tonne opalware capacity and new borosilicate glass unit comes on stream over the next two years.
“Strengthening of demand, revamping of internal sales structure and sharpening up of e-commerce channel will drive growth in the short term,” the brokerage firm said in a recent note.
Centrum Broking's optimism comes at a time when La Opala recorded its highest-ever sales and profitability in the September quarter and is expected to have a better December quarter.