Buy Greaves Cotton; target of Rs 190: ICICI Direct
ICICI Direct is bullish on Greaves Cotton has recommended buy rating on the stock with a target price of Rs 190 in its research report dated August 13, 2021.
August 19, 2021 / 01:02 PM IST
ICICI Direct's research report on Greaves Cotton
Greaves Cotton (Greaves) is leading diversified engineering company with presence in automotive, non-automotive, aftermarket, retail, electric mobility solution and finance. New business share increased to ~30% while auto engine reduced to ~37% from FY17 to FY21. Overall, B2C share increased to ~60% in FY21 E-mobility is expected to drive future growth (~12% of FY21 revenue)
We remain long term positive and retain our BUY rating on the stock We value Greaves at Rs 190 on SoTP basis
For all recommendations report, 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.