Kotak Securities is bullish on GHCL has recommended Accumulate rating on the stock with a target price of Rs 272 in its research report dated April 30, 2019.
Kotak Securities' research report on GHCL
GHCL's Q4FY19 numbers were above our estimates on all parameters. Soda Ash segment continued with its strong performance, supported by tight demand supply in the domestic market resulting in outperformance. Strong operating performance, led to 44.3% YoY and 15.7% QoQ jump in PAT to Rs1.19 bn (vs estimates of Rs1.1bn).
Outlook
We maintain our Accumulate rating, with a revised target price of Rs272 (earlier Rs270), as we roll forward our multiple 6x (earlier 6.5x) to FY21E earnings.
For all recommendations report, click here
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