Buy Amber Enterprises: Target Of Rs 2623: Sharekhan
Sharekhan is bullish on Amber Enterprises recommended buy rating on the stock with a target price of Rs 2623 in its research report dated November 09, 2020.
Nov 11, 2020 / 11:28 AM IST
Sharekhan's research repor on Amber Enterprises
Strong performance from subsidiaries supports operational performance while RAC business is affected by high channel inventory. Management expects Q3 to be flattish while Q4 to be much better. The benefit from the recent ban on import of fully built refrigerant ACs to accrue from Feb-March 2021. Export of components to start from FY2022 and RACs from CY2022. To build 18-20 product portfolio in commercial refrigeration over 2-3 years. Strong order backlog for Sidwal.
We recommend Buy on Amber Enterprises (Amber) with a PT of Rs. 2,623, given its strong net earnings growth outlook over FY2021E-FY2023E.
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