ICICI Direct has given Buy recommendation for VIP Industries recommended buy rating on the stock with a target price of Rs 850 in its research r with a target price of Rs. 850 in its research report issued on Mar 30, 2022

ICICI Direct’s research report on VIP Industries

VIP Industries is one of Asia’s leading seller/manufacturer of various types of luggage’s, backpacks and handbags. VIP has a range of leading brands, positioned across entire price range, catering to value (Aristocrat) mid (VIP, Skybags) and premium (Carlton, Caprese) price points. Market leader in the organised luggage space (oligopoly market) • VIP has, over the years, maintained balance sheet prudence with stringent working capital policy, virtually debt free status and healthy RoCE: 30%+.

Outlook

We maintain BUY recommendation on the stock with a revised target price. We value VIP at Rs 850 i.e. 50x FY24E EPS.

More Info

At 14:50 hrs VIP Industries was quoting at Rs 751.05, up Rs 7.20, or 0.97 percent.

It has touched an intraday high of Rs 764.30 and an intraday low of Rs 726.75.

It was trading with volumes of 56,128 shares, compared to its thirty day average of 55,501 shares, an increase of 1.13 percent.

In the previous trading session, the share closed up 2.12 percent or Rs 15.45 at Rs 743.85.

The share touched its 52-week high Rs 758.00 and 52-week low Rs 309.00 on 29 March, 2022 and 19 April, 2021, respectively.

Currently, it is trading 0.92 percent below its 52-week high and 143.06 percent above its 52-week low.

Market capitalisation stands at Rs 10,625.36 crore.

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