Porinju Veliyath increases stake in Archies Ltd

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Pee Vee
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Porinju Veliyath increases stake in Archies Ltd

Post by Pee Vee » Mon Jul 09, 2018 11:32 pm

Equity Intelligence, Porinju Veliyath's investing arm, holds 8,30,000 shares of Archies Ltd, comprising 2.46% of the equity capital.

Buy Archies; target of Rs 60: Equity99

Equity99's is bullish on Archies has recommended buy rating on the stock with a target price of Rs 60 in its research report dated April 17, 2018.

Archies Limited (Archies), incepted in 1979, by Promoter cum Chairman & MD Mr. Anil Moolchandani in Delhi. They initially sold song books, posters and leather patches until their main product, greeting cards, was introduced in 1980. Archies today has become one of the largest manufacturers and sellers in greeting cards and other social expression products such as gifts and posters in India. Archies has a market share of about 50% of India's greeting cards market.

Outlook

Positive quarterly financial trend and Mildly Bullish technicals, makes it looks Mildly Positive for this Micro Cap stock.. We recommend a BUY rating to our investors with target of Rs. 60 in horizon of 12 months.

https://www.moneycontrol.com/news/busin ... 52641.html

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