Motilal Oswal maintain buy rating on Pidilite Industries post March quarter results with a 12-month target price of Rs 750.
The March quarter results marked yet another quarter of a strong operating performance from PIDI. A potentially normal monsoon could further revive demand.
Pidilite Industries offers a high quality discretionary play due to its strong competitive positioning, proven in-market excellence and an impeccable track record of generating long-term shareholder value over multiple periods.
"We are also enthused by Mr. Puri's strategy of expanding into portfolio adjacencies. The stock has outperformed the market by 22% since our upgrade in Dec-'15," said the brokerage note.
"We continue to like the franchise, notwithstanding the stock's near-term rich valuation. Maintain Buy, with a revised target price of INR750. Pidilite still remains one of our preferred consumer plays," added the report.
The March quarter results marked yet another quarter of a strong operating performance from PIDI. A potentially normal monsoon could further revive demand.
Pidilite Industries offers a high quality discretionary play due to its strong competitive positioning, proven in-market excellence and an impeccable track record of generating long-term shareholder value over multiple periods.
"We are also enthused by Mr. Puri's strategy of expanding into portfolio adjacencies. The stock has outperformed the market by 22% since our upgrade in Dec-'15," said the brokerage note.
"We continue to like the franchise, notwithstanding the stock's near-term rich valuation. Maintain Buy, with a revised target price of INR750. Pidilite still remains one of our preferred consumer plays," added the report.
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