Grasim Industries share price: Buy Grasim Industries, target Rs 988: Edelweiss Securities - The TheIndianSubcontinentNever miss a great news story!Get instant notifications from TheIndianSubcontinentAllowNot nowYou can switch off notifications anytime using browser settings.RecosDID YOU KNOWUnleash the power of SIP - Invest in Mutual fundsReturns1M 6M 1Y 3Y 11.89% PortfolioLoadingSelect Portfolio and Asset Combination for Display on Market BandShow More Download ET MARKETS APP Get ET Markets in your own languageDOWNLOAD THE APP NOWCHOOSE LANGUAGEENGENG - EnglishHIN - GUJ - MAR - BEN - KAN - ORI - TEL - TAM - ET NOW RADIOET NOWTIMES NOWBuy Grasim Industries at a price target of Rs 988.ETMarkets.com|Feb 11, 2019, 12.46 PM ISTEdelweiss Securities has a buy call on Grasim Industries with a target price of Rs 988.The current market price of Grasim Industries is Rs 710.80.Time period given by the brokerage is one year when Grasim Industries price can reach the defined target.Investment rationale by the brokerage: Grasim Industries standalone Q3FY19 EBITDA impressed yet again rising 18 per cent YoY (being 11 per cent ahead of estimates).
While VSF performance is in line, the chemicals and textile segments led the overall outperformance.
Factoring in 9MFY19 and Grasims proven ability to withstand global headwinds, we see no major risks to our FY19 and FY20 estimates.
Besides, we are introducing FY21E with EBITDA growth of 8 per cent.
While the overhang of capital allocation to group companies Vodafone Idea (Idea) and Aditya Birla Capital (ABCL) remains, we retain BUY/SP on Grasim given (1) 60.3 per cent stake in UltraTech Cement exceeds its current market cap (therefore a value play), and (2) sanguine outlook for the SA entity over medium to long term.
Factoring in the recent cuts in target prices of key holdings and rolling over the valuation to Q1FY21E, we are tweaking down our SOTP based target price to Rs 988 (from Rs 1,066).Read this article inHindiBuy Sobha, target Rs 614: Edelweiss SecuritiesBuy Himatsingka Seide, target Rs 265: Edelweiss SecuritiesBuy State Bank of India target Rs 353: Edelweiss SecuritiesCorporate banks can be a play for next 2-3 years: Gautam Shroff, Edelweiss SecuritiesCommenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com.
Please consult your financial advisor before taking any position in the stock/s mentioned.Browse CompaniesABCDEFGHIJKLMNOPQRSTUVWXYZ|123456789Browse Mutual FundsABCDEFGHIJKLMNOPQRSTUVWXYZ1Buy Grasim Industries, target Rs 988: Edelweiss Securities Buy Lupin, target Rs 985: HDFC SecuritiesBuy Amber Enterprises India, target Rs 975: Elara Capital Buy Larsen Toubro, target Rs 1,210: Manas Jaiswal Buy Kotak Mahindra Bank target Rs 1,350: Manas Jaiswal Sell YES Bank, target Rs 167: Kunal Bothra Buy Kotak Mahindra Bank, target Rs 1,325: Kunal Bothra Sell Maruti Suzuki India, target Rs 7,050: Dr CK Narayan Buy Sobha, target Rs 614: Edelweiss SecuritiesBuy Zydus Wellness, target Rs 1,472: Sharekhan Buy Himatsingka Seide, target Rs 265: Edelweiss SecuritiesTo see your saved stories, click on link hightlighted in bold