Moneycontrol
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.



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 Nov 25, 2019 03:23 pm
Sections
Follow us on
Available On