Research Head (MONEY MAKER
RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one
can go long in FUTURE ENTERPRISES.
“FUTURE ENTERPRISES is the
stock which We would recommend to buy above Rs 62.50; this can see a
upside to levels closer to Rs 65 - 66 zones, keep stop loss below Rs
59”.
Future Enterprises Limited,
formerly Future Retail Limited, is engaged in the business of multi
brand retail trading. The Company's store networks include over 738
stores in approximately 221 cities, which are operated under various
brand names, including easy day and KB's. The Company's retail
business consists of Hypermarket and Supermarket, and Home Solutions.
The hypermarket and supermarket business is led by Big Bazaar, fbb,
Food Bazaar and Food hall, and the Company operates over 300 Big
Bazaar, fbb and food bazaar stores in approximately 244 cities across
the country. The home solutions business includes Hometown and Ezone.
Hometown is a one-stop destination for home-making solutions. Ezone
is a lifestyle format that consists of consumer electronic and
durables brands. KB's offers exotic range of food products through
over 500 stores. Easy day operates approximately 320 stores in Delhi
and the National Capital Region; Punjab; Haryana, and Western Uttar
Pradesh.
Stock is trading at 0.67 times
its book value & has been maintaining a healthy dividend payout
of 27.79%.
FEL was closed 1.12 percent
up today at Rs 54.05 at NSE.