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Buy Transport Corporation of India; target of Rs 850: Sharekhan

Sharekhan is bullish on Transport Corporation of India has recommended buy rating on the stock with a target price of Rs 850 in its research report dated August 04, 2022.

August 06, 2022 / 10:39 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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Sharekhan's research report on Transport Corporation of India


TCI reported better than expected consolidated revenues for Q1FY2023 led by strong growth across its key verticals. However, OPM remained under pressure q-o-q across verticals. The management retained topline and bottom line growth guidance of 10-15% y-o-y for FY2023 factoring a slowdown towards the fag end of the fiscal year. Its capex plan of Rs. 300 crore remains unchanged although it is yet to zero in on a ship for acquisition.



Outlook


We retain a Buy on TCI Ltd with a revised price target of Rs. 850, lowering our valuation multiples to factor near-term near term macro headwinds affecting especially the MSME segment.

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Transport Corporation of India - 050822 - khan

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first published: Aug 6, 2022 10:39 pm
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