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Buy Ramkrishna Forgings; target of Rs 1021: Anand Rathi

Anand Rathi is bullish on Ramkrishna Forgings has recommended buy rating on the stock with a target price of Rs 1021 in its research report dated July 26, 2021.

July 27, 2021 / 04:51 PM IST
An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

 
 
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Anand Rathi's research report on Ramkrishna Forgings


New multi-year order wins across existing and new OEMs (domestic and export) and the gradual pace of recovery in the automobile segment domestically coupled with ~80% utilisation led to the highest margins for the quarter.


Outlook


The foray into electric vehicles with customers acquired and focus on its product range, coupled with its Railway business would augur well for growth in the next two years. Accordingly, we upgrade our rating to a Buy, at a target of Rs1,021 (14x FY23e).


For all recommendations report, click here


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first published: Jul 27, 2021 04:51 pm

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