Financial Freedom Offer: Subscribe to Moneycontrol Pro and grab benefits worth ₹15,000/-
Last Updated : Jul 01, 2020 07:10 PM IST | Source: Moneycontrol.com

Hold CESC; target of Rs 700: ICICI Direct

ICICI Direct recommended hold rating on CESC with a target price of Rs 700 in its research report dated June 30, 2020.

Broker Research
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on CESC

CESC reported a decent operational performance in Q4FY20. Revenues were in line with estimates while lower other expenses led to a beat in EBITDA. However, a shortfall in other income negated the EBITDA beat. Consequently, PAT was marginally lower than estimates. However, on the subsidiaries front, the performance of all generation and distribution subsidiaries has significantly improved across all verticals.


We downgrade the stock from BUY to HOLD with a target price of Rs 700 per share (7x FY22E EPS).

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.

First Published on Jul 1, 2020 06:33 pm