The stock was listed in 2009 March 27th, the opening price was at 99 but unfortunately went down very low on the same day at 17.50 and closed at 19.15. In April 2010 the stock again reached 59.40 and again slowly the stock fell back around 40-30 levels. The stock has strong support at 30 levels and currently the stock is trading at 37.65.
The Net profit for the year 2008-2009 was around 13 crores and has shown increase, net profit for the year 2009-2010 was around 16 crores. The company's reserves also have increased.
The company has 784 stores as of December 2009, In February, the company floated JV with Italy`s high-street brand Oviesse to set up 190 centres in next 5 years across metro, Tier 1.
Based on the above information and other financial data the stock looks attractive at current prices.
Current Price : 37.65
Target Price: 50
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