CD Equisearch has recommended accumulate rating on Orient Refractories with a target price of Rs 161 in its research report dated February 13, 2017.
CD Equisearch's research report on Orient Refractories
With the likelihood of steel industry to continue aid refractories demand, revenues of ORL are expected to culminate in 14% (annual) growth in the next two years galvanized by higher operating margins (over 19.5%). Balancing all odds, we assign ‘accumulate’ rating on the stock with a target of Rs 161 based on 24x FY18 EPS (peg ratio: 1.2) over a period of 6-9 months.
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