IDFC maintains outperform call on Greenply Industries, expects earnings to double over FY17-20
The company is expecting its earning to get doubled over FY17-20.
On Tuesday, it was found that the shares of Greenply Industries gained 1.5 percent intraday. This was because the broking house IDFC has maintained outperforms rating with a target of Rs 390 per share.
According to the statement given by the brokerage house, they are expecting that any revival in real estate would aid growth for the company.
The company is also expecting that its earnings will get double over FY17-20.
It is also believed that the plywood volume growth is likely to revive to 12-15 percent, Y-o-Y.
On the BSE, Greenply Industries was quoting at Rs 315, up Rs 4.90, or 1.58 percent at 11:08 hrs.
Ultimately, the share of Greenply Industries touched its 52-week high Rs 335 and 52-week low Rs 255 on 08 November, 2017 and 18 August, 2017, respectively.
Recently, it is trading 5.97 percent below its 52-week high and 23.53 percent above its 52-week low.
As per the records, the company’s trailing 12-month EPS was at Rs 10.84 per share on September, 2017 and the price-to-earnings (P/E) ratio of stock was 29.06.
Presently, the price-to-book value of the company was 4.91 and the most recent book value of the company is Rs 64.18 per share.