Keynotes Financial Opiniery issued Buy call on Tinplate Company of India. Keynotes recommends buying stock for target of Rs 99 against current market price of Rs 78.65 in its report.

Commenting on investment rationale, Keynotes said, "The gross revenue from operations of the Company for FY 2013-14 at Rs10.59 billion were higher by 20% compared to FY 2012-13 at Rs8.77 billion on the strength of enhanced scale of operations and better realizations.

The profit after tax has correspondingly increased to Rs 630 million in FY 2013-14 from Rs280 million in FY 2012-13. During the financial year 2013-14, the Company has achieved a 5% increase in production over the previous year and an overall capacity utilization of approx. 85%.

Tinplate has remained competitive mainly through progressive light-weighting. With the recent enhancement in capacity, your Company is better equipped to meet the growing demand for thinner tin mill products."

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