Anand Rathi is bullish on Visaka Industries has recommended buy rating on the stock with a target price of Rs 640 in its research report dated November 12, 2018.
Visaka was hit by rising input costs and the high base of the BP division during the quarter. Its yarn division margins, however, continue to recover. The expected price hikes, de-leveraging, improving yarn division, commissioning of the Jhajjar plant and solar roofing (ATUM) would provide the requisite impetus to growth.
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