ICICI Securities Limited
With a wide presence at the lower price points and strong distribution of 1 million retail outlets, VST's brand has been especially popular in West Bengal, Bihar, Uttar Pradesh, Andhra Pradesh and Telangana contributing ~60% of volumes. The company's fundamentals are driven by a strong capital structure, steady cash flow and consistent dividend payment. VST has a robust margin profile with its operating margin at 32.2% for FY19. With robust volume growth in 9MFY20 change in product mix towards high priced cigarettes, we maintain our BUY rating on the stock. We value the...
VST Industries Ltd.'s price crossed above 30Day SMA today
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