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Last Updated : Sep 18, 2018 04:36 PM IST | Source: Moneycontrol.com

Buy Rane Holdings; target of Rs 2560: Cholamandalam Securities

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.

 
 
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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.

Outlook

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.

For all recommendations report, click here

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First Published on Aug 8, 2018 05:08 pm
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