ASAHI SONGWON COLORS LTD : Accumulate at CMP 120-122

Asahi Songwon Colors Limited has been recommended in the past too (Please refer my earlier posts)

Stock had come down due to not so good results in Dec-15 quarter.

Company has already achieved 9 moth EPS of approx 12 and is in good position to declare EPS OF 16-17 for year 15-16.

Stock is available at forward PE multiple of 7.5 which is cheap looking at strong business ,debt free status and fundamentals

Technically stock has bounced back after achieving lows of Rs 108 in recent fall.
Company has recently declared interim dividend and amount could be in range of 1.50 -2 Rs and 23-3-2016 is record date for entitlement for dividend.

Long term investor can accumulate at suggested range for target price of Rs 200.