May 18, 2017 06:18 PM IST | Source:

Hold Gandhi Special Tubes; target of Rs 335: ICICI Direct

ICICI Direct recommended hold rating on Gandhi Special Tubes with a target price of Rs 335 in its research report dated May 18, 2017.

  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Gandhi Special Tubes

The Indian Meteorological Department (IMD) has forecast near normal rainfall at 96% of LPA for upcoming monsoon season 2017. According to senior officials at the IMD, although there does exist neutral El Niño conditions (30% probability) in the Pacific Ocean, positive dipole movement in the Indian Ocean is expected to counter the Pacific move and result in normal monsoon in 2017.


However, PAT is expected to remain largely flat in FY17-19E due to lower effective tax rate (20%) and higher other income in the base year i.e. FY17. We now value GST at Rs 335, i.e. 16x P/E on FY19E EPS of Rs 20.8/share and assign a HOLD recommendation.

For all recommendations, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Follow us on
Available On