Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Hold CESC; target of Rs 727: ICICI Direct

ICICI Direct recommended hold rating on CESC with a target price of Rs 727 in its research report dated January 14, 2021.

January 14, 2021 / 08:26 PM IST
 
 
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ICICI Direct's research report on CESC


CESC reported Q3FY21 results that were mostly in line with estimates. Again the key highlight was the improved performance at Dhariwal Infra and reduction of losses at distribution business, which is commendable. In contrast, the company has declared a generous interim dividend of Rs 45/share wherein the yield works out to 6.7% at the current market price.



Outlook


We continue to value the stock at 7x but roll over the valuations to FY23E EPS to arrive at a fair value of the stock at Rs 727 (earlier Rs 680). We maintain our HOLD rating.


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.

Broker Research
first published: Jan 14, 2021 08:26 pm

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