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Last Updated : Jun 09, 2017 08:11 AM IST | Source: Moneycontrol.com

Buy Transport Corporation India; target of Rs 280: Geojit Financial Services

Geojit Financial Services is bullish on Transport Corporation India has recommended buy rating on the stock with a target price of Rs 280 in its research report dated May 02, 2017.

 
 
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Geojit Financial Services' research report on Transport Corporation India


Logistics sector is expected to witness a remarkable turnaround led by roll out of GST, revival in domestic macro, exponential growth in the e-commerce, higher infrastructure spending in roads projects, fast tracking of Dedicated Freight Corridor (DFC) and initiatives like Make in India.


Outlook


TCI has potential for scaling up of business as implementation of GST will lead increased outsourcing of logistics services to third party players. We factor earnings to grow at 21% CAGR over FY17E- 19E. We value standalone business at a P/E 20x on FY19E and subsidiaries at Rs 23/share to arrive at a SOTP target price of Rs 280 with a Buy rating.


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First Published on May 2, 2017 04:46 pm
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