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Buy Finolex Industries; target of Rs 480: CD Equisearch

CD Equisearch bullish on Finolex Industries recommended buy rating on the stock with a target price of Rs 480 in its research report dated May 26, 2020.

May 26, 2020 / 05:50 PM IST
 
 
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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.


For all recommendations report, click here


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Broker Research
first published: May 26, 2020 05:50 pm

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