Update on Indian Metals. Revenue flat, Profits poor. Hold with SL of 600.

Update on Indian Metals. Revenue flat, Profits poor. Hold with SL of 600.

Going through the Quarterly results and better outlook on the sector, hold the stock with SL of 600. Stock likely to range 600-700 for 3 months. Above 700 stock can rally towards 950. Below 590 stock can dip towards 480 and 440.

Long 18 to 24 months time frame, we will hold our target of 1200 and 1500 due to better sector outlook.

Reference call:

Indian Metals at 650. Recommended at 450. Target 1200. 12-18 months.

 

 

source http://gale.in/update-on-indian-metals-revenue-flat-profits-poor-hold-with-sl-of-600/