Buy Time Technoplast Ltd. target Rs 230 : ICICI Direct

ICICI Direct has Buy on Time Technoplast with a target price of Rs 230. The current market price of Time Technoplast is Rs 188.4. Time period given by analyst is year when Time Technoplast Ltd. price can reach defined target.
The brokerage house believes that Time Technoplast will record strong earning CAGR of around 25 per cent in FY17-20E supported by improvement in margin and lower interest outgo. A further improvement in asset turnover would result in lower debt/equity, going forward. ICICI Direct expects a major government infrastructure push and replacement demand to be key catalysts and lead to a further re-rating of the stock.