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Buy Finolex Cables target of Rs 581: Sharekhan

Sharekhan is bullish on Finolex Cables has recommended buy rating on the stock with a target price of Rs 581 in its research report dated August 17, 2022.

August 19, 2022 / 03:34 PM IST
 
 
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Sharekhan's research report on Finolex Cables


Finolex reported healthy performance, backed by robust volumes in electrical wires (24% y-o-y) despite a challenging environment and intense competition. We expect robust demand from sectors such as real estate, auto, and industrials for its wires and cables business. Further, scalability in power cables and FMEG would boost revenue and earnings growth. Scope of margin improvement, healthy operating cash flow generation, tight working capital management, and limited capex requirements give us further comfort.



Outlook


We retain our Buy rating on Finolex Cables Limited (Finolex) with a revised PT of Rs. 581, given compelling valuations and strong long-term growth prospects.


For all recommendations report, click here


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Finolex Cables - 180822 - khan

Broker Research
first published: Aug 19, 2022 03:34 pm