you are here: HomeNewsBusiness

Buy Greaves Cotton; target of Rs 110: Sharekhan

Sharekhan is bullish on Greaves Cotton has recommended buy rating on the stock with a target price of Rs 110 in its research report dated February 11, 2021.

February 16, 2021 / 05:44 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Greaves Cotton

Greaves reported strong set of numbers in Q3FY21, ahead of our expectations at both revenue and operational level. We expect Greaves’ earnings to grow robust 92.4% in FY2022E and 35.4% in FY2023E, driven by 19.9% CAGR during FY2021E-FY2023E and 450 bps improvement in EBITDA margin. The stock is trading below its average historical multiple at P/E multiple of 13.6x and EV/EBITDA multiple of 7.5x its FY2023E estimates. We upgrade our rating to Buy call.


We upgrade Greaves Cotton Limited (Greaves) to Buy with a revised PT of Rs. 110, factoring in faster than expected recovery in its business outlook and improved operational performance.

For all recommendations report, 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.

Broker Research
first published: Feb 16, 2021 05:44 pm

stay updated

Get Daily News on your Browser