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Buy NRB Bearings; target of Rs 220: ICICI Direct

ICICI Direct is bullish on NRB Bearings recommended buy rating on the stock with a target price of Rs 220 in its research report dated December 29, 2021.

December 29, 2021 / 04:52 PM IST
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ICICI Direct's research report on NRB Bearings

NRB was incorporated in 1965 as an Indo-French venture and pioneered the production of needle and roller bearings in India. NRB is India’s largest needle and cylindrical roller bearings producer. Today 90% of vehicles on Indian roads run on NRB parts • It exports its products to many countries such as France, Italy, the US, Mexico, Brazil, Thailand and Bangladesh. It has a revenue break-up of 78% from domestic sales and 22% from exports.


We remain positive on the stock and maintain BUY rating. We roll over valuations to FY24E and value NRB at Rs 220 i.e. 18x P/E on FY24E EPS.


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: Dec 29, 2021 04:52 pm
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