Buy VIP Industries With Stop Loss Of Rs 734

VIP-IndustriesStock market analyst Ashwani Gujral has maintained buy rating on VIP Industries Limited stock with a short term target of Rs 655.

The interested investors can buy the stock with stop loss of Rs 734.

Today, the stock of the company opened at Rs 681 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 801.40 and a low of Rs 131.40 on BSE.

Current EPS & P/E ratio stood at 24.98 and 27.10 respectively.

Luggage manufacturer VIP Industries Ltd has registered an increase of 103% in its net profits during the second quarter of the existing financial year to Rs 11.4 crore as compared to Rs 5.6 crore during the corresponding period of
2009.

The company's net sales during the period grew by 22.5% to Rs 146.2-crore in Q2 of FY 11 from Rs 119.3-crore in Q2 of FY 10.

The company's Chairman, Dilip G Piramal stated, "The performance was driven by successful sales promotions which led to increase in value and volume sales during the monsoon season, usually considered a slow time for luggage sales."

During the last month, VIP Industries introduced a fresh range of hard luggage under its brand Alfa.

The novel variety of 'Boxer' Strolly features an attached trolley for ease and is available in two different sizes including 57cm and 63 cm priced at Rs 1,400 and Rs 1,700 respectively.

It also has deluxe editions valued at Rs 1,600 and Rs 1,900.