ICICIdirect has upgraded stock rating on TTK Prestige to  Buy. The stock broker has pegged target of Rs 5,300 for share price against current market price Rs 4,447.

Commenting on the investment rationale stock broker said," We believe TTKP is well poised to capitalize on the revival in the economy considering its retail expansion plans and continued product launches.

The improvement in consumer sentiment and the likely revival on the back of improved economic parameters will further aid growth. An inorganic growth, if any, may be an added positive.

We expect companies with consistent growth and healthy fundamentals to continue to command a premium. We, thereby, upgrade TTK Prestige to BUY with a revised target price of Rs 5,300 (based on 28.0x FY17E EPS of Rs 189.1)."

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