Buy Asahi India Glass, target Rs 229: ICICI Securities

ICICI Securities has Buy call on Asahi India Glass Ltd. with a target price of Rs 229.0. The current market price of Asahi India Glass Ltd. is 190.65. Time period given by analyst is year, when Asahi India Glass Ltd. price can reach defined target. Considering the huge entry barriers and Asahi's formidable moat in the PV industry, the stock could trade at a premium to its 10-year average, and re-rate as demand outlook or profitability improves faster than anticipated, said the brokerage.