Jan 06, 2014, 11.34 AM IST
Brokerage house Firstcall Research is bullish on Finolex Cables and has recommended buy rating on the stock with a target price of Rs 110 in its December 31, 2013 research report.
Tags Finolex Cables
Like this story, share it with millions of investors on M3
Buy Finolex Cables; target of Rs 110: Firstcall Research
Brokerage house Firstcall Research is bullish on Finolex Cables and has recommended buy rating on the stock with a target price of Rs 110 in its December 31, 2013 research report.
Like this story, share it with millions of investors on M3
Buy Finolex Cables; target of Rs 110: Firstcall Research
Brokerage house Firstcall Research is bullish on Finolex Cables and has recommended buy rating on the stock with a target price of Rs 110 in its December 31, 2013 research report.
"Finolex cables, Pune based electrical equipment company reported double digit rise in both Net Profit and EBDITA in second quarter results FY14. Net profit stood at Rs. 799.80 mn against Rs. 574.60 mn in the corresponding quarter of the previous year, 39 percent jump YOY. EBDITA also rose at the same rate and stands at Rs. 1179 mn in the current September quarter compared to Rs. 847.70 mn in the same period previous year. Profit Before Tax galloped 56 percent at Rs. 1024.30 in Q2 FY14 against Rs. 657.70 mn in Q2 FY13. Finolex Cables, leading domestic manufacturer of electrical and communication cables had a lackluster sales performance of 1.22 percent YOY. But this has been compensated by controlling expenditure which rose by just 0.46 percent YOY and rise in other income (up 114 percent) and exceptional item in form of forex gains of Rs. 103.80 mn during the quarter."
"The electrical equipment industry is dependent on the performance of infrastructure and real estate sector and thus has been affected by low investment activity by corporates and slow clearances of projects by the government. The company's sales are expected to pick up with improved economic environment as it has strong financial fundamentals. In future with the roll out of 4G services, communication cables business will also pick up which constitute 8-10 percent of the total revenues. The company has also reduced its short term borrowings by 72 percent and Long term borrowings are up by just 1.65 percent over the last six months. Finolex Cables is a sure bet for long term investment and thus we recommend 'BUY' for medium to long-term at a target price of Rs 110," says Firstcall Research Report.
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.
To read the full report click here
Anda sedang membaca artikel tentang
Buy Finolex Cables; target of Rs 110: Firstcall Research
Dengan url
https://rokokkanker.blogspot.com/2014/01/buy-finolex-cables-target-of-rs-110.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Buy Finolex Cables; target of Rs 110: Firstcall Research
namun jangan lupa untuk meletakkan link
Buy Finolex Cables; target of Rs 110: Firstcall Research
sebagai sumbernya
0 komentar:
Posting Komentar