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Entry Price

1,344.00

Target

1,585.00

Recommend Date

22-12-2017

Return

17.93 %
BUY

Date : 22-12-2017

We had come out with an I-direct Instinct on Sandesh in March, 2017. We reiterate that our upside thesis was based on Gujarat state elections given the company’s presence in the state. Moreover, we note that despite the recent run-up, the company is available at attractive valuations of 10x FY19E earnings despite a healthy growth matrix.