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Buy Finolex Cables; target of Rs 660: Sharekhan

Sharekhan is bullish on Finolex Cables has recommended buy rating on the stock with a target price of Rs 660 in its research report dated February 13, 2023.

March 10, 2023 / 04:47 PM IST
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Sharekhan's research report on Finolex Cables

The company expects demand momentum to continue from the construction and realty segments for electric cables. OFC demand would be driven by increasing capex by telecom players and the government’s spend on 5G. The company would achieve break even in the FMEG segment by FY23. The company is strengthening its dealer/distribution network to increase its geographical reach, which shall lead to higher volumes going forward. We derive further comfort from commendable market share of 22% in wires, healthy cash, zero debt, and tight working capital management.


We retain our Buy rating on Finolex Cables Limited (Finolex) with an unchanged PT of Rs. 660, given strong volume and margin recovery in Q3 and a healthy long-term outlook.

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Finolex Cables - 10 -03 - 2023 - khan

Broker Research
first published: Mar 10, 2023 04:47 pm