BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Tube Investments of India Ltd.’s Q1 FY24 results were negatively impacted by low revenues across key businesses such as engineering (due to steel price adjustment) and metal formed (weakness in two-wheelers).
However, the underlying recovery in the auto, especially two-wheeler volumes, and exports are expected to drive revenue and margins recovery over the next few quarters to over 13% by Q4 FY24.
We have lowered our FY24E/FY25E consolidated earnings per share estimates by 3% each, negatively impacted by 4% cut in standalone revenue, due to moderation in revenue growth in key businesses.
We reiterate our 'Buy' rating with a target price of Rs 3,655 (September-25E SOTP).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
Poshn Raises $4 Million In Funding Led By Prime Venture Partners, Zephyr Peacock
May 07, 2024
Trade Setup For May 6: Nifty To See Cautious Trade On Weak Technicals
May 06, 2024
MCX Q4 Results Review - Weak Revenue Led To A 5% PAT Miss; Cost Broadly Inline: Motilal Oswal
Apr 25, 2024
ANZ Aims To Open Operation At India’s GIFT Special Economic Zone
Mar 27, 2024
POPULAR