Top Stock to Buy with Anil Singhvi – Jyothi Labs: Budget 2021 is just weeks away and the action around stocks is already developing. Which sectors and stocks will benefit from this year’s budget? Market Expert Ambareesh Baliga gives his favourate Budget 2021 Stock pick.
Top Budget 2021 Stock to Buy: The analyst said that he expected the consumption to get a boost in this year’s budget. Under the current pandemic situation, lot of stress has been given to the hygiene and cleanliness. He picked Jyothi Labs, which is one of the leading brands in home and personal healthcare segment.
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Under this segment come items like fabric care, household insecticides, personal care and dishwashing. This company has very strong brands in all these segments viz Ujala, Henko, Margo, Pril.
Jyothi Labs is nearly debt free, he said. Net working capital has come down by almost 25 per cent which augurs well for the company.
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If one looks at Jyothi Labs stock, it has been one of the underperformers in the space over the last 6-8 months. He said that he expected the stock to do some catching up over the next few months.
Jyothi Labs stock is currently trading at Rs 153. He said that looking at a double-digit growth in revenues, Jyothi Labs target price is Rs 195 which is 30 times the FY22 EPS.