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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.

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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.


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

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First Published on Jun 10, 2020 05:28 pm