Buy Premier Explosives Ltd For Target Rs.218 - Sushil Finance
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We had reinstated our coverage on Premier Explosives Ltd. on August 22, 2019 with a BUY rating at the then prevailing price of Rs.161 for a target of Rs.218. Subsequently, we had put the stock 'Under Review' citing lack of visibility for its business in the short-to-medium run on March 05, 2020.
With the recent run-up in the stock price, the stock trades substantially above our target price. Considering the current volatility in the stock markets, we advise our investors to book profits at current price as we close our recommendation on the stock and change our rating to NEUTRAL.
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