Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!

Buy Greaves Cotton: target of Rs 150: Sharekhan

Sharekhan is bullish on Greaves Cotton has recommended buy rating on the stock with a target price of Rs 150 in its research report dated February 24, 2021.

February 25, 2021 / 02:40 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Greaves Cotton

Greaves is positioned well to benefit from the Government’s push towards fast adoption of Electric Vehicles (EVs) in automobile industry. We expect Greaves’ earnings to grow robust 70.3% CAGR during FY2021E-FY2023E, driven by 22% revenue CAGR and a 510 bps improvement in EBITDA margin. The stock is trading below its average historical multiple at P/E multiple of 16.9x and EV/EBITDA multiple of 9.7x its FY2023E estimates.


We remain positive on Greaves Cotton Limited (Greaves) given its timely thrust on the e-mobility business. We have raised our earnings estimates and target valuation multiple, owing to better business outlook and valuation re-rating of e-mobility sector. We maintain our Buy rating on the stock with revised PT of Rs 150.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research
first published: Feb 25, 2021 02:40 pm
ISO 27001 - BSI Assurance Mark