Sharekhan is bullish on Ratnamani Metals and Tubes has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated May 31, 2019.
Sharekhan's research report on Ratnamani Metals and Tubes
We remain Positive on RMTL due to its strong balance sheet, its ability to generate superior return ratios despite capacity expansion programmes. RMTL reported revenue and earnings growth of 11% and 12% y-o-y respectively during Q4, marginally below expectations. The management has provided growth guidance of 10-12% both on the revenue and the PAT front for FY2020.. We introduce FY2021 estimates and expect the company to report a revenue and earnings CAGR of 11.1% and 9.4% during FY2019-21E.
Outlook
We maintain our Buy rating on Ratnamani Metals & Tubes Limited (RMTL) with a revised PT of Rs. 1,150.
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.
Read More
