Kotak Securities is bullish on Escorts and has recommended buy rating on the stock with a target price of Rs 160, in its research report dated February 13, 2015.
"Revenues at Rs.10464 mn declined by 10% YoY on the back of 17% fall in tractor volumes. Weak tractor demand lead higher discounting and negative operating leverage leading EBITDA margin declining over corresponding quarter previous year. However, sequentially EBITDA margins witnessed improvement. Company reported PAT of Rs357mn, better than our expectation on account of negative tax provisioning. Construction equipment and auto ancillary reported reduction in losses over 2QFY15. We expect the tractor demand to stay weak in the near term. Turnaround in loss making segment is expected to provide support to margins in the coming quarters. We retain BUY with revised price target of Rs 160 (earlier Rs163). Weak tractor demand in FY16 will be the key risk to our earnings estimates and target price", says Kotak Securities research report.
For all recommendations, 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.
To read the full report click here
Anda sedang membaca artikel tentang
Buy Escorts; target Rs 160: Kotak Securities
Dengan url
https://duniadalamsehat.blogspot.com/2015/02/buy-escorts-target-rs-160-kotak.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Buy Escorts; target Rs 160: Kotak Securities
namun jangan lupa untuk meletakkan link
Buy Escorts; target Rs 160: Kotak Securities
sebagai sumbernya
0 komentar:
Posting Komentar