172@29@17@151!~!172@29@0@53!~!|news|business|stocks|hold-greaves-cotton-target-of-rs-90-sharekhan-5382651.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : Jun 10, 2020 05:28 PM IST | Source: Moneycontrol.com

Hold Greaves Cotton target of Rs 90: Sharekhan

Sharekhan recommended Hold rating on Greaves Cotton with a target price of Rs 90 in its research report dated June 08, 2020.

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

Sharekhan's research report on Greaves Cotton


Greaves Cotton Ltd (Greaves) results were lower than estimates as steep drop in topline and margin contraction impacted earnings. Covid-19 is expected to impact growth across segments. Margins are expected to remain under pressure due to negative operating leverage and pricing pressures from clients. We have cut our estimates to factor impact on earnings.



Outlook


Valuations at 14.4x FY22 earnings are close to long term historical average of 16-17x. We retain Hold rating on the stock with unchanged PT of Rs 90.





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.

First Published on Jun 10, 2020 05:28 pm
Sections