Buy Carborundum Universal: target of Rs 500: Sharekhan
Sharekhan is bullish on Carborundum Universal has recommended buy rating on the stock with a target price of Rs 500 in its research report dated January 14, 2021.
January 15, 2021 / 01:50 PM IST
Sharekhan's research report on Carborundum Universal
CUMI with its diversified user industries is expected to be a major beneficiary led by improvement in economic recovery, manufacturing activity, and auto sales. Improving overseas operations aided by capacity expansion, success of new products, and being an alternative global supplier are likely to aid exports growth. Strong balance sheet, healthy return ratios, and consistent dividend paying record are key salient features.
We recommend Buy on CUMI with a revised PT of Rs. 500, rolling forward our valuation multiple to FY2023E.
For all recommendations report, click here
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