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Buy TCI Express; target of Rs 2000: ICICI Direct

ICICI Direct is bullish on TCI Express has recommended buy rating on the stock with a target price of Rs 2000 in its research report dated June 07, 2022.

June 07, 2022 / 12:48 PM IST
 
 
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ICICI Direct's research report on TCI Express


TCI Express is a leading asset light B2B (95% of revenues) express logistics company with 28 sorting centres, 800+ owned pan-India centres covering 40000 pick-up and delivery points. SME and corporate clients comprise 50:50 of overall revenues • Total 55% of revenues from sectors like auto ancillary, pharma, engineering.



Outlook


We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 2000 i.e. 38x P/E on FY24E EPS.


For all recommendations report, click here


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first published: Jun 7, 2022 12:48 pm