Target of Rs 50 for Bodal Chemicals: Ganesh Shanbhag

ET Now spoke to Ganesh Shanbhag of SMS Financial Services on his views on stocks.

ET Now: How do you rate Bodal Chemicals?

Ganesh Shanbhag: Bodal is an Ahmedabad based chemical company and they went through a bad time a year back, but last year it actually turned around.

Now basically in the midcap space, it looks pretty interesting because on the profitability front it has really jumped back. With a one year time-frame, we are looking at a target of around Rs 50 in the stock.

ET Now: What do you think is the reason for the uptick?

Ganesh Shanbhag: A year before last, because of the sell-off from the Chinese manufacturers, the company had reported losses. But in March 2010, they have achieved a turnaround and they have really bounced back. So we expect that over the next 2 or 3 quarters, this company should do really well.