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Buy Nalco; target of Rs 41: Motilal Oswal

Motilal Oswal is bullish on Nalco recommended buy rating on the stock with a target price of Rs 41 in its research report dated November 12, 2020.

November 13, 2020 / 03:11 PM IST
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Motilal Oswal 's research report on Nalco

Nalco's (NACL) 2QFY21 higher-than-expected EBITDA at INR2.8b (v/s est. INR2.2b) and volumes were a surprise once again. EBITDA continues to strengthen due to LME recovery and lower input commodity costs. We raise our FY21/FY22E EBITDA estimates by 36%/28% to factor in the recovery in LME prices. Maintain Buy.


We value the stock at 5.5x FY22E EV/EBITDA to arrive at TP of INR41. Maintain Buy.

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: Nov 13, 2020 03:11 pm

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