Stock Idea - Buy Safari Industries Ltd For Target Rs. 950 By Angel Broking Ltd
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Stock Idea - Buy Safari Industries Ltd For Target Rs. 950 By Angel Broking Ltd
Safari Industries India Ltd (SIIL) is amongst the leading luggage players with market share of ~18% market share in the organized sector. SIIL is market leader in mass segment & shift from unorganized to organized sectors would benefit the company. Over the last three years, the company has outperformed luggage Industries in terms of sales growth.Going forward, we expect SIIL to report strong top-line & Bottom-line growth on the back of healthy growth in the organized sector, wide distribution network, strong brand & promoter initiatives. Hence, we are positive on stock.
Safari Industries : CMP-Rs744 Target Price:-Rs950
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
