Cholamandalam Securities is bullish on Rane Holdings has recommended buy rating on the stock with a target price of Rs 2560 in its research report dated 07 Aug 2018.
Cholamandalam Securities' research report on Rane Holdings
Rane Holding Limited (RHL) is holding company of Rane Group. Founded in 1929; Headquartered in Chennai, India. It has strategic investments in four subsidiary companies, three joint venture companies and one associate company. The company serves a variety of industry segments: Passenger vehicles, Commercial vehicles, Farm tractors, and two wheelers, Three Wheelers, Railways and Stationary Engines.
We arrive at a revised price target of INR 2,560 based on P/E of 19x FY20EPS and maintain a BUY rating on the stock. Risks: Economic downturn or slowdown in the key markets can lead to decreased volumes and capacity utilization.
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