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Buy Pricol; target of Rs 200: ICICI Direct

ICICI Direct is bullish on Pricol has recommended buy rating on the stock with a target price of Rs 200 in its research report dated August 23, 2022.

August 23, 2022 / 03:24 PM IST
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ICICI Direct's research report on Pricol


Pricol Ltd (Pricol), established in 1974, is a Coimbatore based supplier of diversified auto components like instrument clusters, sensors & switches, pumps and mechanical products, telematics solutions and wiping systems. Product mix: - ~65% from 2-W, 3-W, ~15% from CV, ~10% from PV, ~10% from off-road & tractors • Segment mix: - ~55% from driver information system (instrument cluster), ~30% from actuation & fluid control system, ~15% sensors and others.



Outlook


We retain our BUY rating on Pricol amid management walking the talk over debt reduction plans, new tie-ups as well as ambitious Vision 2025. Upgrading our estimates, we now value Pricol at Rs 200 i.e. 20x P/E on FY24E EPS of ~Rs 10.0/share (earlier target price Rs 140).


More Info


At 15:23 hrs Pricol was quoting at Rs 166.35, up Rs 1.10, or 0.67 percent.


It has touched an intraday high of Rs 170.35 and an intraday low of Rs 164.65.


It was trading with volumes of 76,918 shares, compared to its thirty day average of 77,542 shares, a decrease of -0.80 percent.


In the previous trading session, the share closed up 2.77 percent or Rs 4.45 at Rs 165.25.


The share touched its 52-week high Rs 166.50 and 52-week low Rs 74.00 on 22 August, 2022 and 23 August, 2021, respectively.


Currently, it is trading 0.09 percent below its 52-week high and 124.8 percent above its 52-week low.


Market capitalisation stands at Rs 2,027.50 crore.


For all recommendations report, click here


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Pricol - 230822 - icici

Broker Research
first published: Aug 23, 2022 03:24 pm