Motilal Oswal initiates 'buy' on Essel Propack, target price Rs 210

Motilal Oswal has initiated coverage on Essel Propack with a buy rating and target price of Rs 210. Essel Propack is set to benefit from various expansion measures and efforts to improve its product mix across geographies over the last two years, said Motilal Oswal. Operating leverage benefits are likely to kick in with ramp-up of operations, particularly in the Americas and Europe, the brokerage said. Shares of Essel Propack ended up 8% at Rs 173.50 on Wednesday.