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Last Updated : Jun 03, 2019 04:05 PM IST | Source:

Buy Ratnamani Metals and Tubes; target of Rs 1150: Sharekhan

Sharekhan is bullish on Ratnamani Metals and Tubes has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated May 31, 2019.

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Sharekhan's research report on Ratnamani Metals and Tubes

We remain Positive on RMTL due to its strong balance sheet, its ability to generate superior return ratios despite capacity expansion programmes. RMTL reported revenue and earnings growth of 11% and 12% y-o-y respectively during Q4, marginally below expectations. The management has provided growth guidance of 10-12% both on the revenue and the PAT front for FY2020.. We introduce FY2021 estimates and expect the company to report a revenue and earnings CAGR of 11.1% and 9.4% during FY2019-21E.


We maintain our Buy rating on Ratnamani Metals & Tubes Limited (RMTL) with a revised PT of Rs. 1,150.

For all recommendations report, click here

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First Published on Jun 3, 2019 04:05 pm
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