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Buy Greaves Cotton; target of Rs 180: ICICI Direct

ICICI Direct is bullish on Greaves Cotton has recommended buy rating on the stock with a target price of Rs 180 in its research report dated May 13, 2022.

May 14, 2022 / 01:53 PM IST
 
 
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ICICI Direct's research report on Greaves Cotton


Greaves Cotton (Greaves) is a leading diversified engineering company with a presence in automotive, non-automotive, aftermarket, retail, electric mobility solution and finance. New business share increased to ~49% while engine reduced to ~48% in FY17-22 • E-mobility is expected to drive future growth (~38% of FY22 revenue).



Outlook


We remain long term positive and change our rating on the stock from HOLD to BUY. We value Greaves at Rs 180 on SoTP basis.

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For all recommendations report, click here


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first published: May 14, 2022 01:53 pm
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