Stock market analysts are of the view that investors can buy Jyothy Laboratories Ltd stock to achieve an intraday target of Rs 188.

According to them, investors can buy the stock between Rs 180-182 with a strict stop loss of Rs 178.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 192.

Shares of the company, on Thursday (Dec 04), closed at Rs 184.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 192 and a low of Rs 47.25 on BSE.

FMCG company Jyothi Laboratories, which initiated its door-to-door laundry service with the launching of Fabric Spa, is eyeing a Rs 25-crore revenue from the new service by the next one year.

During the opening phase, the company has invested approx Rs 35 crore in Fabric Spa. Moreover, it has decided to make investment of Rs 60 crore during the upcoming phase of growth when it will expand its services to Pune, Chennai and Hyderabad.

The organized laundry service industry in India is pegged around Rs 5,000 crore with Bangalore accounting for approximately Rs 100 crore of the total market.

During the second quarter ended Sep 30, Jyothy Laboratories has recorded a growth of 177% in its net profit, which stood at Rs 14.1 crore as against Rs 5.1 crore in the same period of 2008.

The company’s net sales rose 48.8 % at Rs 130 crore as against Rs 87.4 crore during the same period last year.