Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Buy Bombay Rayon Fashion, tgt Rs 554: Networth

41 sec read

Networth Stock Broking has maintaineed buy rating on Bombay Rayon Fashion with target price of Rs 554 in its January 01, 2008 report. "Bombay Rayon Fashions Ltd. (BRFL), the largest manufacturer of designer shirts has emerged as one of the fastest growing companies in India. The net sales and profits of the company have grown at a CAGR of 117% and 174% respectively over the last 2 years. We expect the addition of new capacities and change in product mix to ensure continuation of its robust growth. We have projected the sales and profits to grow at a CAGR of 71% and 80% respectively over FY07-10. At the current price of Rs 359, it trades at a P/E of 28.1x, 13.9x and 7.8x its FY08(E), FY09(E) and FY10(E) EPS respectively. Our DCF valuation of the company gives us a price target of Rs 601. However, taking a conservative approach we have valued the company giving P/Ex of 12 to FY10 EPS of Rs 46.14. We recommend buy on the stock with a one-year price target of Rs 554, an appreciation of 54% from the current level," according to Networht Stock Broking.
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Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

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