Dec 04, 2013, 12.22 PM IST
Sunidhi Securities is bullish on Centum Electronics (CEL) and has recommended buy rating on the stock with a target price of Rs 189 in its December 03, 2013 research report.
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Buy Centum Electronics; target Rs 189: Sunidhi Securities
Sunidhi Securities is bullish on Centum Electronics (CEL) and has recommended buy rating on the stock with a target price of Rs 189 in its December 03, 2013 research report.
Like this story, share it with millions of investors on M3
Buy Centum Electronics; target Rs 189: Sunidhi Securities
Sunidhi Securities is bullish on Centum Electronics (CEL) and has recommended buy rating on the stock with a target price of Rs 189 in its December 03, 2013 research report.
"CEL has been steadily increasing its product and service range, geographical reach and catering to increased industry segments in its goal to expand its offerings and become the sophisticated one stop shop OEMs are seeking. With extensive design & development expertise and leading-edge enabling technologies. Centum is now the industry leader in India in electronics solutions & components. The strategy over the years has been consistent and is based on high customer focus with competent people, state of the art technology and high quality products. Exports to USA and Europe constitute 35 percent each leaving domestic sales of 30 percent."
"Centum's growth has been attributed to the strong relationships forged with international customers and partners that have enabled the company to establish a global presence and bring value to a range of customers. This customer-focused approach coupled with Centum's core-values of Technology-Teamwork-Trust has resulted in a track-record of high quality products & services and excellent execution ability. Based on the going, CEL is expected to continue to post robust results going forward. CEL all set to post an EPS of Rs 25.5 in FY14, which could further go up to Rs 31.5 in FY15. At the current market price of Rs 133, the share is trading at a P/E of 5.2x on FY14E and 4.2x on FY15E. We recommend BUY with a target price of Rs 189 at which the share will trade at a P/E of 6.0x on FY15E," says Sunidhi Securities research report.
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