Buy Grasim Industries: Target Of Rs 1010: Sharekhan
Sharekhan is bullish on Grasim Industries recommended buy rating on the stock with a target price of Rs 1010 in its research report dated November 13, 2020.
Nov 15, 2020 / 11:29 AM IST
Sharekhan's research repor on Grasim Industries
Both of Grasim’s key verticals witnessed strong sequential improvement in OPM led by demand improvement, lower input costs and fixed cost reduction leading to higher-than-expected standalone net earnings for Q2. Divestment of low RoCE Fertiliser business to improve focus on core businesses. Partnership with Labrizol to help increase chlorine integration. Confidence in demand environment led to increasing capital expenditure for capacity expansion in both Viscose and Chemical divisions.
We upgrade Grasim to Buy with a revised PT of Rs.1010 as we factor in our revised PT of Ultratech, increase multiple for standalone business and reduce holding company discount of subsidiaries.
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