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Buy Vedanta; target of Rs 361: Motilal Oswal

Motilal Oswal is bullish on Vedanta has recommended buy rating on the stock with a target price of Rs 361 in its research report dated 1 September2017.

September 04, 2017 / 15:47 IST
     
     
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    Motilal Oswal's research report on Vedanta

    We interacted with the management of Hindustan Zinc (HZL) and Zinc -international (ZI) during Vedanta’s (VEDL) Zinc day at Udaipur on 30 th Aug and visited S. K. mines (SKM) and Debari Smelter on 31 st Aug., 2017. VEDL is targeting to increase Zinc - lead mine production at CAGR of ~15% over FY17 -20E to ~1.6mt. We have upgraded volumes, earnings and target price. Key highlights.

    Outlook

    VEDL’s consolidated EBITDA has increased by 9/11% to INR349/379b for FY19E/FY20E and target price has in creased to INR361/share (earlier INR316) based on FY19E sum - of-the -parts valuation, 16% Upside. Maintain BUY.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    first published: Sep 4, 2017 03:47 pm

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