Buy Asahi India Glass; target of Rs 150: Gupta Equities

Gupta Equities is bullish on Asahi India Glass and has recommended buy rating on the stock with a target of Rs 150 in its November 29, 2010 research report.

Asahi India Glass was first recommended by us (VOL 2 No 20) at the then price of Rs 65 and projected to be priced at Rs 90 in a year's time frame and was repeated (VOL 3 No 12) at the then price of Rs 82 with a price target of Rs 120. The stock has recently hit our target price & the performance of the company during this period has also undergone a sea change for the better times ahead. Enthused with the recent performance & good outlook for future we have once again opted to repeat our recommendation and this time price target has been enhanced to Rs 150 in a year’s time frame.”

“A brief re-cap about the company & industry it is involved in. Glass - its products are as abundant & durable as the sand from which it is made. The magical transparent property of glass has made it one of society's most beneficial creations. The glass industry has always been evolving - the changes come so rapidly that many of the glass products we take for granted today, were only developed in the last decade. The glass business mostly comprises of float glass (basic raw glass), automotive glass (value added float glass used for automotives), architectural glass (float glass having applications in buildings, offices), mirrors reflective glass & container glass to mention a few. India's largest integrated float glass company namely Asahi India Glass Ltd (AIGL) is jointly promoted by Labroo family, Asahi Glass Company of Japan and Maruti Suzuki India Ltd.”

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600450 Buy Asahi India Glass; target of Rs 150: Gupta Equities
Date: 17 December 2010

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