Buy Finolex Cables; target of Rs 475: Sharekhan
Sharekhan is bullish on Finolex Cables has recommended buy rating on the stock with a target price of Rs 475 in its research report dated February 17, 2021.
February 19, 2021 / 03:16 PM IST
Sharekhan's research report on Finolex Cables
Steady quarter led by strong revenue growth better than estimates along with stable operating profit margins and PAT which remained in line with estimates. Expect better FY2022 as cables and wires sees improvement with rising infrastructure investments and scaling of its FMEG business with improving demand and expect revenues to improve on better volumes. Finolex’s strong balance sheet and net cash position remains its salient features.
We retain Buy on Finolex cables with a revised PT of Rs. 475 considering its reasonable valuation and improving growth outlook.
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