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).
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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