FAG Bearings Has Target of Rs 900: Kapadia

Resource from: CBCC Likes:2945

Aug 31,2007

FAG Bearings Has Target of Rs 900: Kapadia Ranjit Kapadia, Head of Research of PCG, Prabhudas Lilladher is of the view that FAG Bearings has target of Rs 900. Kapadia told CNBC-TV18, "In the pharma space I have got Ankur drugs, they have started manufacturing for large companies and are the currently the facility have been audited by the large MNC company. Outside the pharmaceutical space I like FAG Bearings and Phillips Carbon Black. Phillips Carbon Black is manufacturing carbon black and this is the largest producer of carbon black in India. Carbon black is manly used for automobile industry in manufacturing of tyres and conveyer belts as well in other industry applications like Xerox inks and masterbatches." He further added, "I see a good potential for this company because most of the facilities in abroad and the developing countries have been shut off because this is no value or high volume item and it's a polluting item. So most of the production is being shifted to the China and India. In case of Philips Carbon Black I expect Rs 250 target and then in case of FAG Bearings I expect the move upto Rs 900 over the period on one year."

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