Buy Polycab India; target of Rs 2850: ICICI Direct
Cryptopolytech Public Press Pass
Title: Buy Polycab India; target of Rs 2850: ICICI Direct
Originally written by and appeared on www.moneycontrol.com
01000000 – $Mo’Money$
•| Economy |•| Business |•| Finance |•| MacroEconomics |•| Crypto |
•| Newser |
Buy Polycab India; target of Rs 2850: ICICI Direct
ICICI Direct is bullish on Polycab India has recommended buy rating on the stock with a target price of Rs 2850 in its research report dated May 12, 2022.
Broker Research
May 14, 2022 / 01:57 PM IST
ICICI Direct’s research report on Polycab India
Polycab is the largest manufacturer of wire & cable in India. The company also entered the fast moving electrical goods (FMEG) space in 2014 and has recorded strong segment revenue CAGR of 43% in the last five years. Polycab is the market leader in the wire & cable business with organised market share of 23%. In the FMEG segment, it is growing through new product launches and dealer addition across India. The company has ~4100 dealers, serving.65 lakh retail outlets • Robust b/s with RoE, RoCE of 19%, 26%, respectively, (three-year average).
Outlook
We maintain our BUY rating on the stock. We revise our target price to Rs 2850/share valuing the stock at 35x 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.
From an External Source.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!