Provogue
IDBI Capital continues to recommend ‘accumulating’ Provogue shares, with a price target of Rs 1,106, after its first quarter results.
By ET Bureau |
CMP: Rs 850
Target Price: Rs 1,106
IDBI Capital continues to recommend ���accumulating��� Provogue shares, with a price target of Rs 1,106, after its first quarter results. ���Provogue is expanding geographical presence in the wake of rising competition. It plans to add 20-22 stores in FY09 and 30 stores in FY10 and add footprint at more than 100 NCS locations. It would invest Rs 2,200/sq. ft. of space. Provogue is planning to add nine more Promart stores up to FY2010 with the same size to make it a count of 10,��� the brokerage said in a client note.
���Rising inflation may be a concern to organised retail in the form of falling footfalls, but softening real estate prices will help them continue with their planned expansions,��� IDBI Capital said.
Disclaimer: The above stocks are picked up at random from research reports of brokerage houses. Investors are advised to use their own judgement before acting on these recommendations. ET does not associate itself with the choices.
Target Price: Rs 1,106
IDBI Capital continues to recommend ���accumulating��� Provogue shares, with a price target of Rs 1,106, after its first quarter results. ���Provogue is expanding geographical presence in the wake of rising competition. It plans to add 20-22 stores in FY09 and 30 stores in FY10 and add footprint at more than 100 NCS locations. It would invest Rs 2,200/sq. ft. of space. Provogue is planning to add nine more Promart stores up to FY2010 with the same size to make it a count of 10,��� the brokerage said in a client note.
���Rising inflation may be a concern to organised retail in the form of falling footfalls, but softening real estate prices will help them continue with their planned expansions,��� IDBI Capital said.
Disclaimer: The above stocks are picked up at random from research reports of brokerage houses. Investors are advised to use their own judgement before acting on these recommendations. ET does not associate itself with the choices.
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