• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney Invest Now master your money
Moneycontrol

Home » News » Recommendations

Feb 16, 2017, 03.20 PM | Source: Moneycontrol.com

Hold CESC; target of Rs 900: ICICI Direct

ICICI Direct recommended hold rating on CESC with a target price of Rs 900 in its research report dated February 13, 2017.

Like this story, share it with millions of investors on M3

Hold CESC; target of Rs 900: ICICI Direct

ICICI Direct recommended hold rating on CESC with a target price of Rs 900 in its research report dated February 13, 2017.

Post Your Comments

Share Cancel

| 1 Comments

(more)

, ICICIdirect.com |


ICICI Direct's research report on CESC

CESC reported better-than-expected Q3FY17 results on account higher-than-expected traded volume from the subsidiary. The power purchase from subsidiary increased 23% YoY to 129 crore units Lower fuel costs in the base business also helped EBITDA and profitability. The base business saw a decline in generation to the tune of 26.8% YoY to 117 crore unit. Revenues came in at Rs 1620 crore vs. our estimate of Rs 1542.5 crore.

Outlook

Hence, we have revised our SoTP based valuation methodology and revised the target price to Rs 900 from Rs 675 earlier. Given the run up in the stock, we maintain HOLD. However, any significant correction should be a buying opportunity.

For all recommendations, click here

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

To read the full report click here

Buy, Hold, Sell ? Hear it first on M3
Hold CESC; target of Rs 900: ICICI Direct

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login