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.
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.
We maintain our Buy rating on the stock with revised PT of Rs 860.
For all recommendations report, click here
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