Buy Castrol India; target of Rs 175: Keynotes Financial Opiniery
Keynotes Financial Opiniery is bullish on Castrol India has recommended buy rating on the stock with a target price of Rs 175 in its research report dated May 10, 2019.
May 13, 2019 / 05:32 PM IST
Keynotes Financial Opiniery's research report on Castrol India
Castrol India limited is one of the leading automotive and industrial lubricant manufacturing and marketing companies in India. The company has a proud heritage of innovation and success since over 100 years in the country. Castrol India is a public limited company with 51% share held by BP through its wholly subsidiary, Castrol limited and the balance being held by public. The company has 3 manufacturing plants at Patalganga, Paharpur and Silvassa, serving a distribution network of over 105,000 retail outlets and B2B customers through over 420 distributors. Castrol India provides a high performance range of products and services across automotive, industrial and marine & energy segments. It is the market leader in the retail automotive lubricants segment providing iconic high performance brands like Castrol Edge, Castrol MAGNATEC and Castrol GTX for passenger cars; Castrol Power1 and Castrol Active for motorcycles and Castrol CRB, Castrol RX and Castrol VECTON for trucks amongst various others including specialty products.
On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 175/- share an upside of 15% from current levels.
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