The Economic Times daily newspaper is available online now.

    Buy NRB Bearings, target price Rs 190: Anand Rathi

    Synopsis

    NRB’s focus and embracing of future technologies along with re-inventing and altering its capabilities has led the Company to supplying the world’s foremost E-Vehicles. The brokerage valued NRB at Rs 190 i.e. 17x P/E on FY24E EPS.

    NRB BearingsiStock
    Promoters held 49.86 per cent stake in the company as of 30-Jun-2022, while FIIs owned 21.5 per cent, DIIs 11.6 per cent.
    Anand Rathi has buy call on NRB Bearings with a target price of Rs 190. The current market price of NRB Bearings is Rs 157.05.

    NRB Bearings, incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 1520.23 Crore) operating in Auto Ancillaries sector.

    NRB Bearings key Products/Revenue Segments include Bearings, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 261.00 Crore, up 8.96 % from last quarter Total Income of Rs 239.53 Crore and up 2.17 % from last year same quarter Total Income of Rs 255.46 Crore. Company has reported net profit after tax of Rs 13.27 Crore in latest quarter.

    The company’s top management includes Mr.Tashwinder Singh, Ms.Harshbeena S Zaveri, Mr.Satish C Rangani, Mr.Devesh S Sahney, Mr.Ashank D Desai, Mr.Rustom Desai, Ms.R M Vishakha. Company has Walker Chandiok & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 10 Crore shares outstanding.

    Investment Rationale
    NRB’s focus and embracing of future technologies along with re-inventing and altering its capabilities has led the Company to supplying the world’s foremost E-Vehicles. The brokerage valued NRB at Rs 190 i.e. 17x P/E on FY24E EPS.

    Promoter/FII Holdings
    Promoters held 49.86 per cent stake in the company as of 30-Jun-2022, while FIIs owned 21.5 per cent, DIIs 11.6 per cent.



    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in