Stock to buy: Shares of Greenpanel Industries Ltd have given tremendous returns in the last one year. The company’s shares have given a multibagger return of 134.41% in a year. This stock can earn money in future also. According to the brokerage firm, GreenPanel Industries shares are likely to remain bullish. Brokerage ICICI Securities is Bullish on the Greenpanel Industries stock and is giving Buy advice.
Target price is Rs 685
Greenpanel Industries reported strong results for Q4FY22. “Greenpanel continues to be our preferred stock pick in the sector due to strong demand tailwind and high profitability,” ICICI Securities said in its note. The brokerage has maintained its buy rating on Multibagger stock. Its target price has been kept at ₹685. Earlier the target price was Rs 578, which has now been increased. Let us tell you that the latest share price of the company is 542.05. That is, at the rate of 542.05 per share, a profit of 26.37% can be made.
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What did the brokerage firm say?
GreenPanel Industries has reported an increase in EBIDTA, which is much better than expected. Led by higher-than-expected profits in the MDF segment, it has upgraded FY23/24E EPS to 4%/21%. The company’s management is confident of 15-18% volume growth each in FY23E and FY24E, while maintaining margins at FY22 levels. Edelweiss maintains a ‘Buy’ rating on the shares of Greenpanel Industries with a revised target price of ₹655 (earlier ₹578).