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Buy Century Plyboards; target of Rs 700: Sharekhan

Sharekhan is bullish on Century Plyboards has recommended buy rating on the stock with a target price of Rs 700 in its research report dated July 21, 2022.

July 23, 2022 / 11:52 AM IST
 
 
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Sharekhan's research report on Century Plyboards

In Q1FY2023, Century Plyboards reported a strong beat on standalone net revenues and net profit although OPM lagged due to weak margins of plywood segment. Management reiterated its over 20% y-o-y revenue growth forecast, retaining segment- wise volume and value guidance. Led by a strong start to FY23, the company would endeavour to grow at double digits for 9MFY2023 surpassing full-year guidance. Capacity expansion plans in MDF and laminates on track. Company to carry out de-bottlenecking in Plywood. The decision on particle board expansion is yet to be taken.

Outlook

We retain a Buy on Century Plyboards with an unchanged PT of Rs. 700.

More Info

At 17:30 Century Plyboards was quoting at Rs 572.15, down Rs 8.25, or 1.42 percent.

It has touched an intraday high of Rs 591.80 and an intraday low of Rs 569.60.

It was trading with volumes of 14,187 shares, compared to its thirty day average of 11,488 shares, an increase of 23.50 percent.

In the previous trading session, the share closed down 2.05 percent or Rs 12.15 at Rs 580.40.

The share touched its 52-week high Rs 749.00 and 52-week low Rs 352.25 on 23 March, 2022 and 30 August, 2021, respectively.

Currently, it is trading 23.68 percent below its 52-week high and 62.29 percent above its 52-week low.

Market capitalisation stands at Rs 12,711.63 crore.

For all recommendations report, click here

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Century Plyboards - 220722 - khan

Broker Research
first published: Jul 23, 2022 11:52 am

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