Moneycontrol
Last Updated : Aug 20, 2018 02:29 PM IST | Source: Moneycontrol.com

Elgi Equipments rises 10%; ICICI Direct initiates buy with target Rs 350

Sustained turnaround in foreign subsidiaries will remains a key and expect revenue/EBITDA/net profit to grow at a CAGR of 18%/22%/29% over FY18-20, says ICICI Direct.

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Share price of Elgi Equipments rose 10.6 percent intraday Monday as broking house ICICI Direct initiated buy with a target of Rs 350 per share.

The company is aspiring market leader with solid fundamentals and Indian manufacturing cycle uptick to strongly benefit to company, said ICICI Direct.

Sustained turnaround in foreign subsidiaries will remains a key and expect revenue/EBITDA/net profit to grow at a CAGR of 18%/22%/29% over FY18-20, it added.

The share touched its 52-week high Rs 350 and 52-week low Rs 210 on 12 February, 2018 and 28 September, 2017, respectively.

Currently, it is trading 13.81 percent below its 52-week high and 43.64 percent above its 52-week low.

At 14:22 hrs Elgi Equipments was quoting at Rs 301.65, up Rs 17.05, or 5.99 percent.

The company's trailing 12-month (TTM) EPS was at Rs 5.17 per share. (Jun, 2018). The stock's price-to-earnings (P/E) ratio was 58.27. The latest book value of the company is Rs 37.86 per share.

Posted by Rakesh Patil
First Published on Aug 20, 2018 02:29 pm
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