Moneycontrol PRO
Upcoming Webinar:Watch Kushal Bhagi of Tortuga Wealth Managers decode how you can maximise your MF investments on Sept 21 @11am. Register Now

Buy Grindwell Norton; target of Rs 500: ICICI Direct

ICICI Direct has recommended Buy rating on Grindwell Norton with a target price of Rs 500 in its research report dated July 27, 2017.

July 31, 2017 / 02:41 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Grindwell Norton

Grindwell Norton’s (GNL) reported Q1FY18 results, which were below our estimates. This was mostly on account of weak growth of 2.6% YoY in the abrasives segment (our estimate 10% YoY). The abrasives segment contributed 64% of top line, while the Ceramics & Plastics segment contributed 28% to the topline.


Accordingly, we value GNL at 35 x FY19E earnings to arrive at a target  price of Rs  500 and continue to retain BUY recommendation on the stock.

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.

first published: Jul 31, 2017 02:41 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark