Neutral on Pidilite Industries\, target price Rs 1385: Motilal Oswal

Neutral on Pidilite Industries, target price Rs 1385: Motilal Oswal

Neutral on Pidilite Industries, target price Rs 1385: Motilal Oswal
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Synopsis

Pidilite Industries Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 76145.38 Crore) operating in Diversified sector.

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Promoters held 70.2 per cent stake in the company as of June 30, 2020, while FIIs held 11.2 per cent, DIIs 8.1 per cent and public and others 10.5 per cent.

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Motilal Oswal has given neutral rating to Pidilite Industries with a target price of Rs 1385. The share price moved up by 0.35 per cent from its previous close of Rs 1497.80. The stock’s last traded price is Rs 1503.05.
Pidilite Industries Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 76145.38 Crore) operating in Diversified sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 877.84 Crore, down 43.17 % from last quarter Sales of Rs 1544.68 Crore and down -56.47 % from last year same quarter Sales of Rs 2016.81 Crore. The Company reported net profit after tax of Rs 15.35 Crore in latest quarter.

Investment Rationale
The brokerage maintains a Neutral rating on the stock from a one-year perspective on account of fair valuations (58.5x FY22 EPS) and uncertain near-term recovery, especially in the B2B part of the business (~15% of sales). However, initiatives to grow the Growth and Pioneer categories could go a long way in revitalizing medium-term sales and earnings growth, which have dropped significantly in the past four years. These metrics reported an 8–10% CAGR over the past four years v/s ~16% and ~20%, respectively, in the first six years of the decade.

Promoter/FII Holdings
Promoters held 70.2 per cent stake in the company as of June 30, 2020, while FIIs held 11.2 per cent, DIIs 8.1 per cent and public and others 10.5 per cent.

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Neutral on Pidilite Industries\, target price Rs 1385: Motilal Oswal

Royal Enfield Bullet 350 Price Increased In India - carandbike

Royal Enfield Bullet 350 Price Increased In India

The Royal Enfield Bullet 350 has become more expensive by Rs. 2,756, and prices now start at Rs. 1,27,093 for the Bullet X 350 variant.

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Prices for the Royal Enfield Bullet 350 begin at Rs. 1.27 lakh (Ex-showroom, Delhi)

Highlights

  • Prices for the Royal Enfield Bullet 350 now begin at Rs. 1.27 lakh
  • The RE Bullet 350 is the most affordable Royal Enfield motorcycle
  • 346 cc, fuel-injected engine makes 19.1 bhp of power, 28 Nm of torque

Royal Enfield has increased prices of the entry-level model in the company's motorcycle range, the Royal Enfield Bullet 350. Both two variants of the Royal Enfield Bullet 350 have become dearer by ₹ 2,756, and this is the second time this year, prices have been increased for the Bullet 350. The Bullet 350 is the most affordable Royal Enfield motorcycle, and even with the price hike, which seems to be across all the models in the Royal Enfield portfolio, the Bullet 350 remains the entry-level Royal Enfield model.

Also Read: Royal Enfield Classic 350, RE Himalayan Prices Increased

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The Royal Enfield Bullet 350 ES is available in three colours - Regal Red, Royal Blue and Jet Black

The Royal Enfield Bullet 350 is available as a standard variant and the Bullet 350 ES, with an electric start. The standard model with kick-start is available in four colours, Bullet Silver and Onyx Black, as well as Black and Forest Green with the trademark hand-painted "Madras Stripes". The Bullet 350 in Bullet Silver and Onyx Black is priced at ₹ 1,27,094 (Ex-showroom, Delhi), while the Bullet 350 in Black and Forest Green is priced at ₹ 1,33,261 (Ex-showroom, Delhi). The Bullet 350 ES is available in three more colours, Regal Red, Royal Blue and Jet Black, and is priced at ₹ 1,42,705 (Ex-showroom, Delhi).

Also Read: Royal Enfield Bullet 350, RE Classic 350 Prices Hiked In May 2020

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The Royal Enfield Bullet 350 Kick Start is also available with the traditional, hand-painted 'Madras Stripes'

Both the Royal Enfield Bullet 350 with kick-start, and Royal Enfield Bullet 350 ES are powered by the same 346 cc, single-cylinder, fuel-injected engine which makes maximum power of 19.1 bhp at 5,250 rpm and 28 Nm of peak torque at 4,000 rpm. Power is transmitted via a 5-speed constant mesh gearbox. The Bullet 350 runs on 19-inch spoked wheels front and rear, suspended from telescopic 35 mm front forks, and twin shocks at the rear with 5-step preload adjustability. The Bullet 350 KS has a kerb weight of 186 kg, while the Bullet 350 ES has a kerb weight of 191 kg. A single 280 mm front disc and 153 mm rear drum, with single-channel ABS, takes care of braking duties.

Also Read: Royal Enfield Interceptor 650, Continental GT 650 Prices Hiked

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The Royal Enfield Bullet 350 Kick Start is the brand's most affordable model

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Royal Enfield has the Bullet 350 and the Royal Enfield Classic 350, based on the same 346 cc engine platform with single-downtube chassis. In a few weeks, Royal Enfield will be introducing an all-new 350 cc motorcycle, the Royal Enfield Meteor 350, based on a completely all-new platform, with a new engine. The RE Meteor 350 will co-exist with the RE Bullet 350 and the RE Classic 350.

For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.

Neutral on Pidilite Industries\, target price Rs 1385: Motilal Oswal

Latest news live updates: Delhi BJP chief Adesh Gupta tests positive for Covid-19 : Delhi is likely to get its first wild animal rescue centre by the end of the year. Facility to come up in Rajokri, reports PTI quoting forest dept officials - The Times of India

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THE TIMES OF INDIA | Sep 16, 2020, 12:29:01 IST

Latest news live updates: Delhi BJP chief Adesh Gupta tests positive for Covid-19

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Neutral on Pidilite Industries\, target price Rs 1385: Motilal Oswal

Italian Open: Stan Wawrinka Knocked Out After Big Upset by Teenager Lorenzo Musetti
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Italian Open: Stan Wawrinka Knocked Out After Big Upset by Teenager Lorenzo Musetti

Stan Wawrinka lost in the first round of Italian Open. (Photo Credit: Wawrinka Twitter)

Stan Wawrinka lost in the first round of Italian Open. (Photo Credit: Wawrinka Twitter)

Rome Masters: Stan Wawrinka got bageled in the first set and then lost the second in tiebreak to teenager Lorenzo Musetti.

  • Last Updated: September 16, 2020, 10:44 AM IST

Three-times Grand slam champion Stan Wawrinka was soundly beaten 6-0, 7-6(2) by teenager Lorenzo Musetti, who won for the first time on the professional circuit in the first round of the Italian Open on Tuesday.

It was only a second game on the ATP Tour for the 18-year-old Italian, who came through three rounds of qualifying, before aggressively upending the 35-year-old Swiss to set up a second-round meeting with Japan’s Kei Nishikori.

Wawrinka made a string of errors as he lost the first eight games before working his way back into the game. Musetti, however, held his nerve to take the second set tiebreak and the match.

Earlier, Denis Shapovalov and Andrey Rublev had cruised into the second round with emphatic straight-sets victories.

Canadian 12th seed Shapovalov, who reached the US Open quarter-finals last week, shook off jet lag to beat Guido Pella 6-2, 6-3, firing seven aces and 23 winners past the Argentine.

Ninth seed Rublev, making his debut at the Foro Italico, beat qualifier Facundo Bagnis 6-4, 6-4 to book a spot in the second round where he will face Hubert Hurkacz.

Alex de Minaur, another quarter-finalist at the US Open, was knocked out by Dominik Koepfer with the German fighting back from a set down to win 3-6, 6-3, 7-6(5).

In the women’s draw, Angelique Kerber was knocked out in a 6-3, 6-1 defeat to Czech Katerina Siniakova while Coco Gauf won her first ever match on clay.

Kerber, who reached the last-16 at the US Open, lasted only 69 minutes on the claycourt as Siniakova advanced in straight sets with five breaks of serve.

Kerber was almost bageled in the second set before she saved three match points to break for the first time in the contest but Siniakova broke back in the next game to seal victory.

American teenager Gauff, playing in her first ever main draw match on clay, came back from 4-2 down in the opening set to beat Tunisian Ons Jabeur 6-4, 6-3.

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