Buy Century Plyboards With Stop Loss Of Rs 65

Buy Century Plyboards With Stop Loss Of Rs 65Technical analyst Ashwani Gujral has maintained 'buy' rating on Century Plyboards Limited stock to attain a target of Rs 80.

According to analyst, the investors can buy the stock with a stop loss of Rs 65.

The stock of the bank, May 03, closed at Rs 69.95 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 6.37 and 11.18 respectively.

The share price has seen a 52-week high of Rs 77.20 and a low of Rs 52.50 on BSE.

Midcap plywood and cement major Century Plyboards has decided to lift up $50 milliion through external commercial borrowings (ECBs) at an interest cost of 5%.

Verdict to fund the growth through ECBs would save much to company in interest costs.

Sources near to the development said that money lifted through external commercial borrowings would be used for flourishing cement capacitance.

Century plyboard is eyeing to boost its cement capacitance to 3.2 million ton per annum as compared to the existing 1.2 million ton per annum.

Funds would be lifted in portions and according to needs over the next few quarters.

Century Plyboards has already got arrangements ready with Allahabad bank and Bank Of Baroda for lifting up ECBs.