Equity analyst Sovid Gupta of Fairwealth Securities is bullish on Alok Industries and maintained 'Buy' rating on the stock to achieve a target of Rs 28.
Alok Industries is a leading vertically integrated textile player having sales of over 3000 crore and tough bottom line.
The analyst initiate a buy call on the company on basis of its good valuation, vast growth in topline by the next three years and augmented outcome from higher foreign currency earnings, increased sale of Value added products and Vertical/ backward Integration.
