Moneycontrol
Get App
Last Updated : Oct 11, 2019 12:19 PM IST | Source: Moneycontrol.com

Hold Bharat Forge; target of Rs 430: Prabhudas Lilladher

Prabhudas Lilladher recommended Hold rating on Bharat Forge with a target price of Rs 430 in its research report dated October 11, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Prabhudas Lilladher's research report on Bharat Forge


We attended BHFC's analyst meet. The management acknowledged short-term challenges in domestic CV industry as recovery in CV volumes expected only by 2HFY21 as well as weak auto exports as US and Europe heavy truck segment is expected to decline ~20% in FY21. However, customer addition in passenger car and ramp-up of new businesses would dilute the impact of weak CV segment. BHFC continues to focus on technology and intends to transform itself as component supplier to a solution provider. We believe ramp up in non-auto exports and increase in share of passenger car segment should partially negate impact of CV business slowdown.


Outlook


We maintain Hold with a target price of Rs430, based on 18x Mar-21E consolidated EPS.


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.



Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Oct 11, 2019 12:19 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant