We are pleased to inform you that our Hidden Gem stock of Jan'15 - Plastiblends India Ltd (BSE Code: 523648, NSE Code: PLASTIBLEN) has given absolute returns of more than 129% to our Hidden Gems members within period of 2 years. Our team suggested Buy on Plastiblends India Ltd at price of Rs. 236.70 on 31 Jan'15 with a target price of Rs. 480. Target was already achieved in January this year and we suggested our members to continue to hold the stock, Plastiblends India stock made its 52 week high of Rs. 564.95 today and closed at Rs. 541.85 giving as on date returns of 129% to our Hidden Gems members.
Plastiblends India has good consistent profit growth of 34.8% over last 3 years, growth prospects of the company look bright with ongoing expansion plan.
Considering good demand and growth potential, the company is going through a Capex programme by increasing its manufacturing capacity. Company has successfully commenced commercial production in the new manufacturing unit at Palsana, Surat effective 25th March 2016. Moreover, considering market potential and demand, Plastiblends India plans to further increase the manufacturing capacity and has acquired land near Kolkata, West Bengal to set up a new manufacturing unit and intends to fund the same largely through internal accruals.
1. Company Background:
- Plastiblends India
- Clariant Chemicals
- Poddar Pigments
2. Recent Developments: (as on 31 Jan'15)
i) Plastiblends to double capacity by 2015 - Dec'13
Plastiblends India Ltd will double its manufacturing capacity by this year. Along with some nominal expansions that will take place at its existing plants that are situated in Daman in Western India and Roorkee, Uttarakhand, the company is setting up a new manufacturing unit.
- 70% at current market price of 236.70
- 30% at price range of 190-210 (in case of correction in stock price in near term)
To Read / Download Saral Gyan Hidden Gem - Jan'15 Research Report - Click Here
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