Bikaji Foods Intern's target Rs 765: IIFL Securities's Top Stock to Buy Today

IIFL Securities has initiated coverage on Bikaji Foods International with a buy rating and a target price of Rs 765. The current market price of Bikaji Foods International is Rs 742.25. IIFL believes that Bikaji's strong brand presence and wide distribution network will drive its future growth. The company is also expected to benefit from the increasing demand for packaged snacks in India. IIFL has assigned a P/E multiple of 30x to Bikaji's FY24E earnings to arrive at its target price.

About Bikaji Foods Intern:

Bikaji Foods International Limited is an Indian snacks and sweets manufacturer headquartered in Bikaner, Rajasthan. Founded in 1987, it produces a wide range of traditional Indian snacks, sweets, and namkeens. The company has a strong presence in India and exports to over 30 countries worldwide. Bikaji Foods' product portfolio includes bhujia, namkeen, papad, and a variety of sweets. The company has a network of over 350 distributors and 10,000 retailers across India.

52 Week Price Trend:

Bikaji Foods International Limited (BFIL), an established player in the Indian snacks market, has seen a steady increase in its share price in recent months. The company's current market price (CMP) of Rs 742.25 represents a significant premium over its 52-week low of Rs 333, indicating strong investor confidence in the company's growth prospects. While BFIL's share price has yet to surpass its 52-week high of Rs 605.9, the overall trend suggests a positive outlook for the company. Investors may consider keeping an eye on BFIL's financials and market performance to assess its long-term growth potential.

Stratzy's MOST Analysis:

BIKAJI has been rated AA- by Stratzy's MOST framework, indicating a Medium Fundamental Risk. This rating is based on an assessment of the company's Management, Outlook, Safety, and Trend. Stratzy considers BIKAJI to have strengths in areas such as management efficiency, growth prospects, and financial stability. However, the company may face some challenges related to industry competition and market volatility. Overall, the AA- rating suggests that BIKAJI is a financially sound company with solid fundamentals, but investors should be aware of potential risks before making any investment decisions.

Company's Fundamentals:

Bikaji Foods International (NSE: BIKAJI) is a publicly traded company on the National Stock Exchange of India (NSE). Some of its key financial ratios as of a specific date include: - Stock PE (Price-to-Earnings ratio): 68.85. This indicates that investors are willing to pay 68.85 times the company's annual earnings per share to acquire its stock. - PB Ratio (Price-to-Book ratio): 12.55. This suggests that the market value of the company's stock is 12.55 times its book value, which is the value of its assets minus liabilities. - Dividend Yield: 0.14%. This represents the annual dividend paid to shareholders as a percentage of the current stock price. In this case, shareholders receive 0.14% of the current stock price as dividends.

Fundamental and Technical information provided in this blog were last updated on 02 Aug, 2024

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