Excerpts from http://www.dstreetdirect.com/stock-discussion-market-buzz/2038-bombay-rayon-fashions-report-prabhudas-lilladher.html
Posted By : ravisvk
Brokerage Prabhudas Lilladher has re-initiated coverage on Bombay Rayon Fashions with a ‘buy’ recommendation for target price of Rs 620. Bombay Rayon Fashions plans to invest Rs 1,100 crore over a span of three years in Maharashtra, to set up six manufacturing units, and this would quadruple and nearly double its fabric and garment manufacturing capacities.
The company has also signed an agreement with the Maharashtra government, to set up its fabric processing and garmenting units in the state. The brokerage expects this initiative to contribute about Rs 1,000 crore in revenue in 2009-10, expanding operating margin by about 500 basis points and net margin by 200 basis points.
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Sunday, December 2, 2007
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