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Last Updated : Jun 03, 2019 04:54 PM IST | Source: Moneycontrol.com

Hold Finolex Cables; target of Rs 515: Sharekhan

Sharekhan recommended Hold rating on Finolex Cables with a target price of Rs 515 in its research report dated May 30, 2019.

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Sharekhan's research report on Finolex Cables


In Q4FY2019, Finolex Cables Limited (FCL)’s net earnings were affected by muted growth in electrical cables segment and a higher effective tax rate. Operating margins improved on the back of lower employee costs and other expenses. We believe slow order finalisation in communication cables segment and delay in scale-up of consumer durable business would continue to limit revenue growth during FY2020-FY2021.


Outlook


We reiterate our Hold rating with a revised PT of Rs. 515, on account of slower finalization of orders in communication cables segment and delay in scaling up of the consumer durable business.


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.




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First Published on Jun 3, 2019 04:54 pm
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