Symphony Ltd
SYMPHONY

1,283.05

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1,283.45

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Accumulate
Reco. Price
Rs 1290.30
We recommend an ACCUMULATE on the stock owing to innovative launches which will boost revenue by 47% (CAGR) over FY16-18E. Additionally, we expect acquisition of MKE to provide it access to the Chinese market. Stock is trading at a premium valuation of 48.5x P/E on FY17E earnings. (Target Price – Rs.1,387)
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50 DMA (.)
1,229.12
100 DMA (.)
1,223.31
200 DMA (.)
1,203.43
Weekly Range (.)
1,251.50
1,306.90
Monthly Range (.)
1,177.20
1,406.00
52 Weeks Range (.)
975.05
1,465.95
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