Fresh Lifetime high for NRB Bearings. (BSE: 530367; CMP 157). Target 200. 3 months. SL 135. Add on dips towards 145-150.
Strong Quarterly results from the company. Stock is trading at Trailing PE of 28 while Industrial PE is at 40. Price to book is fair, while profitability ratio and valuation ratio is good enough.
Stock has posted Quarterly EPS closer to 2.12. We have a target of 23 times annualized quarterly EPS = 200. SL 135.
Technically stock likely to correct towards 150 and 145, where stock can be added.