Buy Amber Enterprises: target of Rs 3170: Sharekhan
Sharekhan is bullish on Amber Enterprises has recommended buy rating on the stock with a target price of Rs 3170 in its research report dated January 06, 2020.
January 07, 2021 / 03:31 PM IST
Sharekhan's research report on Amber Enterprises
Company would be one of the key beneficiaries from the import ban on ACs with refrigerants and likely expansion of PLI schemes for AC and components. Capex expansion of 1 MTPA each at two locations for ACs and components to come onstream by Q1FY2023. Export of components to start from FY2022 and RACs from CY2022. It is set to build 18-20 commercial refrigeration products over 2-3 years. Order backlog is strong across products.
We retain a Buy on Amber Enterprises (Amber) with a revised PT of Rs. 3,170, given multiple growth drivers that brighten the net earnings growth outlook over FY2021E-FY2023E.
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