Moneycontrol Be a Pro
Get App
Last Updated : Nov 25, 2019 03:23 PM IST | Source: Moneycontrol.com

Hold Finolex Cables target of Rs 390: Sharekhan

Sharekhan recommended hold rating on Finolex Cables with a target price of Rs 390 in its research report dated November 20, 2019.

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

Sharekhan's research report on Finolex Cables


Finolex posted lower-than-estimated financials led by weak performance in electrical and communication with a decline in OPM. Net profit was higher due to lower ETR. We expect slowdown in construction and funding crunch in OFC to limit its revenue growth along with higher ad spends in FMEG to weigh on overall OPM over FY2020-FY2021. The issue regarding re-appointment of key managerial personnel also remains unresolved with the matter now sub-judice.


Outlook


We reiterate our Hold rating with a revised PT of Rs. 390 on account muted net earnings growth during FY2019-FY2021E and unresolved issues surrounding promoters of group companies.

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.



LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Nov 25, 2019 03:23 pm
Loading...
Follow us on
Available On