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Buy Greaves Cotton: target of Rs 194: Sharekhan

Sharekhan is bullish on Greaves Cotton has recommended buy rating on the stock with a target price of Rs 194 in its research report dated June 22, 2021.

June 23, 2021 / 02:31 PM IST
  • bselive
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Sharekhan's research report on Greaves Cotton

Greaves is set to benefit from government’s push to speed up adoption of EVs through higher incentives. We expect Greaves to clock a 24% revenue CAGR during FY2021-23E also see a sharp rise in margins, leading to a 245% earnings CAGR. The stock trades below historical averages at a P/E multiple of 20x and EV/EBITDA multiple of 12.1x its FY2023E estimates.


We maintain a Buy on the stock with a revised PT of Rs. 194, factoring better multiples, owing to positive business outlook for mobility business.

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.

Broker Research
first published: Jun 23, 2021 02:31 pm

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