VIP INDUSTRIES
Present Price - Rs.505.50, Buy Above – Rs.513, Projected price – Rs.552
VIP Industries manufactures a range of hard-sided and soft-sided luggage including trolleys, suitcases, duffels and overnight travel solutions, executive cases, backpacks and school bags. Some of its brands include VIP, Alfa, Footloose, and Buddy. The moulded furniture division manufactures chairs, tables, stools and shells of plastic, marketed under the brand VIP Moderna. The company’s manufacturing facilities are located at Nashik, Nagpur, Sinnar, and Jalgoan in Maharashtra, and in Haridwar (Uttarakhand). Rising disposable incomes driven by buoyant GDP growth coupled with a shift towards better lifestyle ensures strong growth for the luggage industry. VIP, the leader, with a 60% market share, is fully geared to capitalise on the same.
On the technical front, the stock has formed a Morning Star Pattern which has strong bullish implications.
Buying is advised above Rs.513 for a target of Rs.552.
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