Moneycontrol PRO

Buy Fineotex Chemical; target of Rs 150: Hem Securities

Hem Securities is bullish on Fineotex Chemical has recommended buy rating on the stock with a target price of Rs 150 in its research report dated August 05, 2021.

August 09, 2021 / 02:43 PM IST
An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Hem Securities report on Fineotex Chemical


The Revenue from Operation for the Q1FY22 has increased by 108% to Rs 6327.57 Lakhs from Rs. 3038.71 Lakhs on Y-o-Y basis. The EBIDTA for the quarter has increased by 139% to Rs 981.87 Lakhs from Rs. 411.11 Lakhs on Y-o-Y basis & the Profit after tax (PAT) for the quarter has increased by 21.44% to Rs 947 Lakhs from Rs. 780 Lakhs on Y-o-Y basis.



Outlook


Company is currently trading at 22.35X of FY23E EPS & 17.52x of FY24E EPS. With company’s joint venture with HealthGuard, appointment of new Chief Executive Officer & upcoming brownfield facility at Ambernath, Maharashtra , the business prospects are looking very strong.We maintain “BUY” on stock with upgraded price target of Rs 150/share.


For all recommendations report, click here

Close

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.

Broker Research
first published: Aug 9, 2021 02:43 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark