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Last Updated : May 21, 2019 10:50 PM IST | Source: Moneycontrol.com

Buy CESC; target of Rs 860: Sharekhan

Sharekhan is bullish on CESC has recommended buy rating on the stock with a target price of Rs 860 in its research report dated May 20, 2019.

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Sharekhan's research report on CESC


We introduce FY2021E numbers earnings and expect the company to report revenue and earnings CAGR of 8.0% and 11.5% during FY2019-21E respectively. Chandrapur plant volume sold increases by 25.6% y-o-y, as PLF improved to 61.4% during FY19. Haldia plant volume growth remains muted as PLF remains stable. Subsidiary revenue increases by 15.4% y-o-y, whereas PAT increases by 2.6x, as two of the loss making subsidiaries reduced losses sharply.


Outlook


We maintain our Buy rating on the stock with revised PT of Rs 860.


For all recommendations report, click here


Disclaimer: 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 on May 21, 2019 10:50 pm
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