ICICI Direct has given Hold recommendation for Astral Poly Technik with a target price of Rs. 1670 in its research report issued on Mar 18, 2021

ICICI Direct’s research report on Astral Poly Technik

Astral Poly Technik made an announcement on bonus shares on February 3, 2021. The ratio was one bonus share for every three equity shares i.e. 1:3. The record date for the same is March 19, 2021 while the ex-date for the same is today, March 18, 2021. Consequently, Astral Poly Technik’ share price, as per yesterday’s closing price, has adjusted to Rs 1843/share from Rs 2457/share.

Outlook

Accordingly, our target price stands revised to Rs 1670/share. We maintain our HOLD recommendation on the stock.