Last Updated : Jun 16, 2020 09:55 PM IST | Source: Moneycontrol.com

Hold Grasim Industries; target of Rs 634: Sharekhan

Sharekhan recommended Hold rating on Grasim Industries with a target price of Rs 634 in its research report dated June 12, 2020.

Broker Research @moneycontrolcom

live

bselive
nselive

Volume

Todays L/H

More

Sharekhan's research report on Grasim Industries

In Q4FY2020, Grasim’s standalone earnings were marginally better than expectation. Viscose division clocked better OPM than chemicals division due to lower input costs. Chemicals continued to suffer due to supply overhang. Management expects 80-85% demand to return in Q3FY2020. It would be finalising its capex plan in the next quarter post reviewing the economic environment. Meanwhile, we believe investors can directly invest in UltraTech (which comprises ~70% of Grasim’s SOTP valuation).

Outlook

We retain Hold on Grasim Industries Limited (Grasim) with an unchanged PT of Rs. 634 led by weak outlook in its standalone business over near to medium term.

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.

Moneycontrol Ready Reckoner

Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

Download a copy

Join the Moneycontrol Rule the New Normal powered by Lenovo webinar on the 18^th of June. REGISTER NOW!