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Buy Tube Investments of India; target of Rs 3250: Motilal Oswal

Motilal Oswal is bullish on Tube Investments of India recommended buy rating on the stock with a target price of Rs 3250 in its research report dated November 07, 2022.

November 11, 2022 / 01:50 PM IST
 
 
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Motilal Oswal's research report on Tube Investments of India

TIINDIA’s 2QFY23 performance was driven by benefit of cost pass-through and currency-related benefits, despite lower revenue. The traction in revenue is expected to continue, led by a recovery in underlying Auto volumes, though exports may be subdued in the near term. Its EV program is on track, with e-3W and e-HCV bookings starting from Dec’22. We have raised our FY23/FY24 EPS estimate by 4%/1% to reflect the benefit of lower commodity prices and a favorable INR.

Outlook

We maintain our Buy rating with a TP of INR3,250 (Dec’24E SoTP-based).

For all recommendations report, click here

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Tube Investments of India - 08-11-2022 - moti

Broker Research
first published: Nov 11, 2022 01:50 pm

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