Prabhudas Lilladher is bullish on NOCIL has recommended buy rating on the stock with a target price of Rs 199 in its research report dated July 31, 2019.
Prabhudas Lilladher's research report on NOCIL
We maintain our FY20/21E earnings estimates. While near term demand slowdown in China and India is a concern, long term opportunities remain impressive given global capex of USD10bn by tyre majors and domestic capex of Rs150- 180bn. Nocil with capacities doubling by H2FY20 is well poised to benefit from tight demand-supply situation in global rubber chemicals market.
Reiterate BUY with a PT of Rs199 based on 15x PER FY21E or 8x EV/EBIDTA FY21E.
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