Bhansali Hits target price of 142. Continue holding. Revised Target 175. SL 120. Add on dips towards 130-133.
We had recommended Bhansali Engg at 113 post results for a target of 142. Target is hit today. Stock had hit upper circuit yesterday, so we are still positive on the stock.
Price to Book is our consern, some good rallying multibaggers like Tata Metaliks are trading at 20x book, so we would upgrade target to 175 valid until next quarterly result. There was a technical break at 120 few days back. We would have our SL at 120.