Sharekhan is bullish on Ratnamani Metals and Tubes has recommended buy rating on the stock with a target price of Rs 1250 in its research report dated June 17, 2020.
Sharekhan's research report on Ratnamani Metals and Tubes
We remain Positive on RMTL due to its strong balance sheet and ability to generate superior return ratios despite capacity expansion programmes. Though FY2021E would be a weak year, we expect sharp recovery in revenue growth in FY2022E because of pent-up demand, pick-up in order inflow, and increased government spending on infrastructure schemes. RMTL reported revenue decline of 12% y-o-y owing to temporary closure of plants due to nationwide lockdown; margin and net profit remained better than our expectations.
Outlook
We maintain our Buy rating on Ratnamani Metals & Tubes Limited (RMTL) with a PT of Rs. 1,250.
For all recommendations report, click here
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