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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.

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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.


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

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First Published on Nov 25, 2019 03:23 pm