Peer Comparison:

_Nahar Industrial Enterprises vs Sangam_

Both companies have 40 Cr Equity although Sales of NIEL higher

              Sales.   Mkt cap

Sangam. 1511.   1233

NIEL.         1775.    480

Sangam is trading @ .8xSales

NIEL is trading @.27xSales

Lowest valuation of NIEL in textile space

TP 160-170 by Nov16
Long term tgt Rs 350-450