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    HomeNewsBusinessStocksBuy Castrol India; target of Rs 489: Motilal Oswal

    Buy Castrol India; target of Rs 489: Motilal Oswal

    Motilal Oswal is bullish on Castrol India has recommended buy rating on the stock with a target price of Rs 489 in its research report dated 24 August 2017.

    August 28, 2017 / 16:33 IST
       
       
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      Motilal Oswal's research report onCastrol India

      STRL’s 2QCY17 revenue declined 10% YoY (-1% QoQ) to INR8.7b (our estimate: INR9.4b), driven largely by lower volumes due to the impact of GST transition and lingering effect of demonetization. Total volume declined 10% YoY (grew 1% QoQ) to 50.9m liters. Implied realization declined to INR171/liter (flat YoY; - 3% QoQ) due to the rebates given in June 2017.

      Outlook

      The stock is trading at 28x (~10% discount to 3 -year average) CY18E EPS of INR 14.  Our fair value stands at INR48 9 (35x CY18E EPS), implying 25 % upside.Maintain Buy.

      For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: Aug 28, 2017 04:33 pm

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