Sharekhan is bullish on Rico Auto Industries has recommended buy rating on the stock with a target price of Rs 95 in its research report dated December 10, 2018.
Sharekhan's research report on Rico Auto Industries
Rico Auto Industries (RAI) has a robust order book valued at Rs. 4,800 crore (including Rs 1,200 crore of new orders) currently, executable over the next five to seven years. RAI margins are expected to improve 130 BPS over the next two years led by better mix, reduction in employee costs and operational efficiencies. RAI’s growth momentum is expected to remain strong; we expect 20% CAGR earnings over the next two years.
Outlook
We retain our Buy rating on the stock with an unchanged PT of Rs. 95.
For all recommendations report, click here
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