Reduce Jyothy Laboratorie, target Rs 315 : Geojit BNP Paribas Financial Services

Geojit BNP Paribas Financial Services has a reduce call on Jyothy Laboratories Ltd. with a target price of Rs 315 .The current market price of Jyothy Laboratories Ltd. is Rs 353.6 Time period given by the brokerage firm is a year when Jyothy Laboratories Ltd. price can reach defined target. Geojit BNP Paribas said Q2FY17 revenue grew at muted 6% YoY, lower than expected, on competitive pressure amid sluggish demand. It lowered its FY17 and FY18 revenue forecasts by -1.5% and -3.4% factoring subdued demand environment.