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Buy Radico Khaitan Ltd For Target Rs. 650 - Angel Broking
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Radico Khaitan: CMP-Rs564 Target Price:-Rs650
Radico Khaitan Ltd (RKL) is a leading manufacturer of Indian Made Foreign Liquor (IMFL). It has a strong pan-India presence with growing sales in the premium brands like Magic Moments Vodka, 8PM Premium Black Whisky, etc. last few quarters, RKL has outperformed the industry on revenue growth front. Going forward, we expect RKL to report healthy profitability mainly due to strong sales growth in the premium product segment (brand extension and launches in new states) and reduction in interest cost.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
