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Hold VST Industries; target of Rs 3725: ICICI Direct

ICICI Direct recommended hold rating on VST Industries with a target price of Rs 3725 in its research report dated November 09, 2022.

November 13, 2022 / 12:31 PM IST
 
 
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ICICI Direct's research report on VST Industries

VST Industries (VST) is cigarette company in India, involved in manufacturing, marketing cigarettes & trading of unmanufactured tobacco. The company has two cigarettes manufacturing facilities in Hyderabad. It has five major brands, which includes, ‘Total’, ‘Charms’, ‘Moment’, ‘Special’, and ‘Edition’ and a direct distribution reach of over 1.1 million outlets.

Outlook

We slightly change our numbers for VST Industries. However, premium cigarettes need to gain traction to re-capture market share • We maintain our HOLD rating on the stock. We revise our target price to Rs 3725 valuing the business at 15x FY24 earnings.

For all recommendations report, click here

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VST Industries - 08-11-2022 - icici

Broker Research
first published: Nov 13, 2022 12:31 pm

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