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Last Updated : Dec 31, 2019 11:44 AM IST | Source: Moneycontrol.com

Buy Ratnamani Metals and Tubes target of Rs 1225: Sharekhan

Sharekhan is bullish on Ratnamani Metals and Tubes has recommended buy rating on the stock with a target price of Rs 1225 in its research report dated December 30, 2019.

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Sharekhan's research report on Ratnamani Metals and Tubes

We fine tune our estimates and revise upwards earnings by 16% and 9% for FY2020E and FY2021E to factor in the favourable impact of lower corporate tax rate of 25.2% (to be opted in Q3FY2020). Q3FY2020 performance is expected to remains strong, as order intake has been robust and pace of execution has been healthy. Moreover, PAT is expected to jump (one-time impact) owing to reduced tax rate. Management has reiterated its revenue and margin guidance of Rs. 2,600 crore-2,750 crore and 16-18%, respectively, for FY2020, as stated during Q2FY2020 results concall, as demand outlook in key user industry looks encouraging.


We reiterate our Buy rating on Ratnamani Metals & Tubes Limited (RMTL) with a revised PT of Rs. 1,225.

For all recommendations report, click here

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First Published on Dec 31, 2019 11:44 am