Buy Globus Spirits For Target Rs 86
Stock market analysts have maintained 'buy' rating on Globus Spirits Ltd with an intraday target of Rs 84.50.
According to them, interested traders can purchase the stock above Rs 83 with a strict stop loss of Rs 81.
If the bourses remain on the positive track, then the stock price will hit a target above Rs 86.
Shares of the company, on Monday (Nov 09), closed at Rs 82.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 111.30 and a low of Rs 74.05 on BSE.
Globus Spirits has recorded a net profit of Rs 5.2 crore during the three monthperiod ended September 30, 2009.
The company's net sales during the quarter stood at Rs 81 crore.
Mr. Ajay Kumar Swarup, company's MD said that the coming two quarters will witness a growth in the company's branded business.
Globus Spirits is one of the top players in the Alcohol business in North India.
The company has set up its uniqueness in the IMFL section with firm development and manufacture of high-class liquor.
Globus Spirits has a brand collection of its own and cater to renowned national brands in the IMFL section.
Since its beginning in 1992, Globus Spirits has been in the business of fabrication, sales plus commercializing of Industrial Alcohol and Country Liquor & Indian Made Foreign Liquor.