Sharekhan recommended hold rating on Finolex Cables with a target price of Rs 535 in its research report dated March 27, 2019.
Sharekhan's research report on Finolex Cables
Margins are expected to remain stable due to lower volatility in copper prices in the past three months. We have introduced FY2021E numbers and expect revenue and earnings CAGR of 11% and 7%, respectively, over FY2018-FY2021E.
Outlook
We reiterate our Hold rating on the stock with a revised PT of Rs. 535, based on further delay of order finalisation in the communication cables business segment along with a delay in scaling-up the consumer durable business.
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