Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo

Buy NOCIL; target of Rs 153: Prabhudas Lilladher

Prabhudas Lilladher is bullish on NOCIL has recommended buy rating on the stock with a target price of Rs 153 in its research report dated August 25, 2020.

August 27, 2020 / 02:06 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Prabhudas Lilladher's research report on NOCIL


We increase our FY21/FY23E estimates by 13%/16% to factor in higher other income (tax refund) and increase our FY23 margin assumption to 22.5% (21% earlier) to include operating leverage. While near term demand slowdown in China and India is a concern, long term opportunities remain impressive. Nocil, with new capacities commissioned is poised to benefit from any recovery in auto demand.



Outlook


Reiterate BUY with a PT of Rs153 (Rs96) based on 15x PER FY23E (15x FY21 earlier).


For all recommendations report, click here


Disclaimer: 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.

Broker Research
first published: Aug 27, 2020 02:06 pm

stay updated

Get Daily News on your Browser
Sections