IDBI Capital maintains buy on VIP Industries, target price Rs 574

The stock closed at Rs 435, down 0.3 per cent on Thursday.

By ETMarkets.com | Updated: Nov 29, 2019, 12.23 PM IST

IDBI Capital has maintained its Buy rating on VIP Industries with a target price of Rs 574. The brokerage said VIP is a proxy play on rising spends towards travel and tourism in India and is also a leader in an industry dominated by unbranded players. Further, VIP has set up manufacturing units in Bangladesh, given wage inflation in China. The stock closed at Rs 435, down 0.3 per cent on Thursday.

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