Scripscan:Jumbo Bag Ltd
cmp:38
Code:516078
Story:As a part of the Rs.980 million BLISS Group of companies, Jumbo Bag Ltd. was established in the year 1990. Started with an initial capacity of 720,000 jumbo bags (FIBCs) it now has the capacity to manufacture over 3.6 million bags per annum, and this has propelled us to the position of market leaders. The portfolio comprises of different designs of FIBCs (Circular, U-panel, Baffles) Hygiene bags, Multi trip bags, tabular & form-ft liner bags. The FIBCs are available in Type A, B, C, D, UN Bags and 20-40 feet container liners and addresses applications that are custom-made for industrial purposes.Jumbo caters to a customer base spanning 5 continents.On the financials front,sales has been a steady rise consistently over the last 5 years.With conomic environment improving jumbo is expected to come out with better set of numbers,PAT should commensurate with it because of the lower base.It pays a dividend of 105 too.Its quoting at a discount of 45% to its recent 09 july high of around 70rs.At 37-38rs it looks to be a short term buy as bargain hunters have started accumulating the counter..The company has consolidated for long in the bourses and I feel a decent spike is on the cards.One can buy the counter for a target of 45-48rs.
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