Buy Jain Irrigation With Target Of Rs 230

Buy Jain Irrigation With Target Of Rs 230Technical analyst Anil Singhvi has maintained 'buy' rating on Jain Irrigation Systems Limited stock with an intra-day target of Rs 230.

According to analyst, the investors can buy the stock with stop loss of Rs 210.

The stock of the company, on November 22, closed at Rs 214.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 264 and a low of Rs 146.60 on BSE.

Current EPS & P/E ratio stood at 6.30 and 36.36 respectively.

Jalgaon-based Jain Irrigation Systems Ltd has purchased an equity stake in a UK firm, Sleaford Quality Foods, which helps the former assisting to flourish its footmark and increase product offerings.

Sleaford Quality Foods has twelve monthly proceeds of 27 million pounds and produces dehydrated veggies, dried fruits, spices, herbs, soup mixes and canned veggies.

Managing Director Anil Jain said, "It's a good value buy. This is kind of a forward integration in to global food value chain."

In addition, Jain Irrigation Systems (JISL) said that it will roll up the 40% capacity expansion in micro-irrigation systems (MIS) by the next two months.

The company has set aside a capital expenditure of Rs 400 crore for the existing financial year, out of which Rs 160-170 crore is for micro-irrigation systems.