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Buy TCI Express; target of Rs 1950: ICICI Direct

ICICI Direct is bullish on TCI Express has recommended buy rating on the stock with a target price of Rs 1950 in its research report dated August 05, 2022.

August 07, 2022 / 12:11 PM IST
 
 
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ICICI Direct's research report on TCI Express

TCI Express is a leading asset light B2B (95% of revenues) express logistics company with 28 sorting centres, 800+ owned pan-India centres covering 40000 pick-up and delivery points. SME and corporate clients comprise 50:50 of overall revenues • Total 55% of revenues from sectors like auto ancillary, pharma, engineering.


Outlook

We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 1950 i.e. 40x P/E on FY24E EPS.

For all recommendations report, click here

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.

TCI Express - 050822 - ici

Broker Research
first published: Aug 7, 2022 12:11 pm

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