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Buy Finolex Cables: target of Rs 450: Sharekhan

Sharekhan is bullish on Finolex Cables has recommended buy rating on the stock with a target price of Rs 450 in its research report dated January 06, 2020.

January 07, 2021 / 03:31 PM IST
 
 
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Sharekhan's research report on Finolex Cables


Expect H2 to be better than H1 as cables see improvement with rising infrastructure investments and scaling of the FMEG business. Finolex also operates in telecom cables and remote working has led to demand for broadband and WiFi at home, resulting in increase in small fibre cable segment, where Finolex remains a beneficiary. Finolex’s strong balance sheet and net cash position provide comfort in the present environment.


Outlook


We retain our Buy rating on Finolex Cables with revised PT of Rs. 450 rolling forward our valuation multiple to FY2023E.


For all recommendations report, click here


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first published: Jan 7, 2021 03:31 pm

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