Buy Schaeffler India; target of Rs 3406: Sharekhan

Sharekhan is bullish on Schaeffler India has recommended buy rating on the stock with a target price of Rs 3406 in its research report dated July 27, 2023.

Broker Research

July 31, 2023 / 15:27 IST

Buy

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Sharekhan's research report on Schaeffler India

Schaeffler India Limited (Schaeffler) reported EBITDA at Rs. 342 crore against our estimate of Rs. 342.4 crore on 2.3% higher-than-expected topline. Management has shared an optimistic outlook for the domestic market and indicated its concern on export volume growth in H2CY2024. The wind energy segment has started showing early signs of green shoots.

Outlook

We maintain our Buy rating on Schaeffler India with a revised PT of Rs. 3,406 in expectation of sustenance in domestic demand, success in the high-value EV business, increased localisation, and traction in the aftermarket segment.

For all recommendations report, click here

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Schaeffler India - 28 -07 - 2023 - khan

Broker Research

first published: Jul 31, 2023 03:27 pm

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