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    HomeNewsBusinessStocksBuy Inox Wind; target of Rs 298: HDFC Securities

    Buy Inox Wind; target of Rs 298: HDFC Securities

    HDFC Securities is bullish on Inox Wind has recommended buy rating on the stock with a target price of Rs 298 in its research report dated February 04, 2017.

    February 09, 2017 / 10:58 IST

    HDFC Securities' research report on Inox Wind

    Inox Wind (IWL) reported yet another weak quarter as execution got impacted due to demonetisation. 200MW of WTGs were manufactured but could not be commissioned, which led to miss in estimates for the quarter. With improvement in execution, the mgmt expects 4QFY17E to be a disproportionately strong quarter.

    OutlookOur estimates factor in flattish volumes of 3.5GW/1GW for the industry/IWL. Still IWL would generate annual FCF of 5bn going ahead. Given a history of volatile quarterly performance we cut our target P/E multiple to 12x (earlier 15x) to arrive at Dec-18 TP of Rs 298/sh. Reiterate BUY.

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

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    first published: Feb 9, 2017 10:58 am

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