HDFC Securities rates Relaxo Footwear a 'buy'
HDFC Securities has rated Relaxo Footwear a ‘buy’, citing a likely rerating of the stock as the key trigger.
By ET Bureau |
Relaxo Footwear
CMP: Rs 90.35
Target price: Rs NA
HDFC Securities has rated Relaxo Footwear a ���buy���, citing a likely rerating of the stock as the key trigger.
���Constant capacity additions and a strong brand value could enhance the company���s presence in the country, and the fact that the company is looking to increasing exports of its products means that it could do well in the coming quarters. The two new plants are coming up in September 2009 and April 2010. The real impact of both could be felt only in FY11,��� the HDFC Securities note to clients said.
���RFL also plans to set up wind farms of an aggregate capacity of 6 MW at a cost of Rs 35 crore over FY10-11. Apart from generating a new source of income by way of power sales and being entitled to carbon credits, it will also result in tax savings for the company,��� the note added.
CMP: Rs 90.35
Target price: Rs NA
HDFC Securities has rated Relaxo Footwear a ���buy���, citing a likely rerating of the stock as the key trigger.
���Constant capacity additions and a strong brand value could enhance the company���s presence in the country, and the fact that the company is looking to increasing exports of its products means that it could do well in the coming quarters. The two new plants are coming up in September 2009 and April 2010. The real impact of both could be felt only in FY11,��� the HDFC Securities note to clients said.
���RFL also plans to set up wind farms of an aggregate capacity of 6 MW at a cost of Rs 35 crore over FY10-11. Apart from generating a new source of income by way of power sales and being entitled to carbon credits, it will also result in tax savings for the company,��� the note added.
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