Thermax’s stock has seen a sharp re-rating, bouncing from the low of about Rs 1,860 a share in the current month to Rs 2,127 currently
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights Higher execution driving revenue growth in project business Margins drop due to lower consultancy business Consultancy business has seen strong growth in orders Order book remains good and supports revenue visibility Stock attractively valued at 9 times fiscal 2024 estimated earnings Engineers India has dropped from around Rs 90 a share in January to Rs 75 a share now. The healthy correction offers a good opportunity, considering that valuations have turned attractive and business is improving with strong orders in hand. Engineers India has an...