Moneycontrol PRO
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Buy Endurance Technologies; target of Rs 1650: Motilal Oswal

Motilal Oswal is bullish on Endurance Technologies recommended buy rating on the stock with a target price of Rs 1650 in its research report dated August 11, 2022.

August 14, 2022 / 12:13 PM IST
Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Motilal Oswal's research report on Endurance Technologies


Operating performance in 1QFY23 was affected by higher RM costs and a weaker mix in the domestic market. While ENDU has been winning new orders (in the domestic and export market), the recent acquisition of Maxwell has opened up new opportunities in the Electronic business (BMS, telematics, etc.) for EVs. We have cut our FY23/FY24 EPS estimate by 16%/5% to reflect: a) impact of semiconductor shortages on premium 2Ws in India, b) higher RM cost impact till 2QFY23, and c) greater energy cost inflation in India and the EU. We maintain our Buy rating with a TP of INR1,620 (27x Jun’24E EPS).


Outlook


The stock trades at 37x/25.7x FY23E/FY24E consolidated EPS. We maintain our Buy rating with a TP of INR1,650 (27x Sep’24E consolidated EPS).


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.

Endurance Technologies - 120822 - moti

Broker Research
first published: Aug 14, 2022 12:13 pm