BSE Code: | NSE Code: | ISIN: | Sector:

NSE
2322.70
Change Change %
-42.35 -1.79%

Updated:23 Oct, 2017, 15:58 PM IST

BSE
2320.00
Change Change %
-45.15 -1.91%

Updated:23 Oct, 2017, 15:46 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Kotak
N/A
19-09-2017 Buy 2167.50 2650.00
N/A
Target Hit Long (1Y)
19-09-2018

Kotak upgrades Venky's India to buy

The re-rating story of Venky's is helped by the following: a/ consistent earnings delivery, which is in turn dependent on strength in chicken prices, b/ potential for a change in meat consumption patterns given several state governments have taken measures against cow-slaughter/ illegal abattoirs, c/ longer-term, we see potential in Venky's to be viewed as a B2C company (higher percentage of processed foods), and d/ while the up-cycle in chicken prices may not last over the long-term, the up-cycle provides the company an opportunity to pay down debt and reduce earnings volatility, leading to higher valuations.

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