Astral trying to break the shackles Astral limited started as a plumbing and drainage solutions providing company The company is today a big name in manufacturing pipes, drainage and water storage tanks used in real estate projects. Post the success company has forayed into diverse product range from ancillary (clamps & hangers) to industrial pipes.
CMP of the stock is 1483.50. Negatives of the company are High valuation (P.E. = 101.2), Declining quarterly net profit and FIIs decreasing stake. Positives of the company are no debt, zero promoter pledge, improving annual net profit & MFS are increasing stake.
Entry in the stock can be taken after closing above 1501. Target will be 1154 and 1657. Long term target will be 1700+. Stop loss in the stock should be kept at a closing below 1383.
