CD Equisearch's research report on Finolex Industries
According to a report by Research And Markets .com, the Indian PVC pipes market is estimated to grow at a CAGR of 4.5% during 2018-27 to reach $5209 mn by the terminal year. Rising demand for PVC pipes from agriculture, automotive, building and construction, electrical and other end use industries is expected to propel the growth of Indian PVC pipes market during the forecasted period. Rise in level of implementation of growth oriented government schemes in end-user application sectors will majorly contribute to this growth. Surge in housing demand fostered by rising population and increasing disposable incomes will drive the growth in Indian ground handling services market.
Outlook
Due to prevailing economic stress, current year EPS estimates have been slashed by nearly 40%. Weighing odds, we maintain our buy recommendation on the stock with revised target of Rs 480 (previous target: Rs 662) based on 24x FY21e earnings.
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