Motilal Oswal is bullish on Nalco recommended buy rating on the stock with a target price of Rs 40 in its research report dated June 28, 2020.
Motilal Oswal 's research report on Nalco
NACL reported an improved 4QFY20 result, as expected, driven by lower cost of production. Realization, however, remained weak due to lower LME. We raise our FY21 EBITDA estimate to factor lower input costs in FY21. Maintain Buy.
We value the stock at 5x FY22E EV/EBITDA to arrive at TP of INR40. Buy.
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