Greaves Cotton – Low Priced Scrip to Buy
Recent downturn in the stock market has brought down prices of some counters lower than their intrinsic worth. And the time seems to be right for the investors to go on for shopping for companies which are available at prices investors could never think of. Now based on the similar line, our low price scrip for this fortnight is Greaves Cotton (GCL) which is trading at its book value. It is said that in uncertain markets dividends act as a soothing factor. Hence along with consistent dividend payment history and dividend yield of more than 7 per cent GCL seems to be comfortably placed. The scrip also seems to be placed better on the valuation front where the CMP of Rs 72 discounts its trailing 12 months earning by just 3.50x. GCL has got all the ingredients to perform in long term and hence we recommend the investors to buy the scrip at current levels with a target price of Rs 98 in next one year.
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