Bhansali Engg above our target price of 175. We maintain fair price at 192.
Stock is trading close to upper circuit for last few days.
Stock is trading at 32 times current quarter annualized EPS of 6 = 192.
If the stock can post Next quarterly annualized EPS of 8 then the target shall be 256.
It is worrisome that the stock is trading at 15 times book and EV/EBITA at 28.
Avoid Fresh buying. You can keep offloading 5-10% of shares every upper circuit.
Continue holding for a target of 256 in 3 months. SL 150. Add on dips towards 170 if any.
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