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Buy Alicon Castalloy: target of Rs 670: Sharekhan

Sharekhan is bullish on Alicon Castalloy has recommended buy rating on the stock with a target price of Rs 670 in its research report dated November 18, 2021.

November 22, 2021 / 01:51 PM IST
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Sharekhan's research report on Alicon Castalloy

Q2FY22 results beat expectations, led by higher sales, price hikes and operating leverage benefits, partially mitigated by increased raw material prices. The management expects sales to be strong in the medium term, as it expects shortage of semiconductor chips to normalise by Q4FY22 end. Stock is trading below its historical average multiples at P/E multiple of 14.2x and EV/EBITDA multiple of 8.6x its FY2023 estimates. .


We maintain a Buy on Mayur Uniquoters Limited (MUL) with an unchanged PT of Rs. 670, owing to positive business outlook and margin expansion.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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first published: Nov 22, 2021 01:51 pm

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