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Last Updated : Oct 31, 2018 05:12 PM IST | Source: Moneycontrol.com

Accumulate Bodal Chemicals; target of Rs 130: Kotak Securities

Kotak Securities recommended accumulate rating on Bodal Chemicals with a target price of Rs 130 in its research report dated October 26, 2018.

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Kotak Securities' research report on Bodal Chemicals


Bodal Chemicals Q2FY19 numbers were in line with estimates. EBITDA margin during the quarter strengthened further by 40bps QoQ, supported by a change in product mix and a higher realisation. Going ahead, we foresee contribution from new dyestuff capacity to support revenue growth.


Outlook


The stock at current valuations of 10.8x/9.0x FY19E/FY20E earnings, factors in all the potential negatives. But re-rating will take some more time. Recommend ACCUMULATE (earlier Reduce) with an unchanged target price Rs130.


For all recommendations report, click here


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First Published on Oct 31, 2018 05:12 pm
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