Buy Grasim Industries, target Rs 1,405: Sharekhan

Sharekhan has a buy call on Grasim Industries with a target price of Rs 1,405.

The current market price of Grasim Industries is Rs 1,108.60.

Time period given by the brokerage firm is a year when Grasim Industries price can reach defined target.

"We have fine tuned our standalone earnings estimates for FY2018-FY2020. On a consolidated level, we see an improvement in the growth outlook of UltraTech, while AB Capital is expected to maintain a strong growth momentum due to its leading position in key verticals of insurance, asset management and retail lending space. Consequently, we maintain our Buy recommendation with revised price target (PT) of Rs 1,405 (upward revision in Ultratech price target and higher cash surplus in Grasim standalone)," Sharekhan said in a report.