Parag Milk gets 'creamy' look!

Parag Milk Foods is the top third gainer on the BSE currently. Going up almost 5.5% to Rs.254.65.

Some half hour ago, the company published its earnings transcript. It was a call with an analyst from brokerage house, Edelweiss Broking. The brokerage house has initiated a “buy” call on the stock and set a target price of Rs.340, which is a huge over 40% bump up over yesterday’s close.

Edelweiss has stated that it is bullish on the dairy milk sector and Parag’s value added products could boost the revenue by 70% by FY20. The company is planning on a major ad blitzkrieg and that is expected to enhance its brand equity. Edelweiss expects its net profit to grow at a compounded annual growth rate of 49% by FY20.