The Company is driving an ambitious global expansion plan with expanding its core areas and diversifying into new businesses.Buy for an upside potential of ~22% from the current level with an investment horizon of 9-12 months.
Consumer Durables – one of the safest bet for medium to long-term investment amidst market uncertainties The Indian electrical and appliances market is expected to reach ~$21bn by 2020 according to the India Brand Equity Foundation (IBEF).
We have revised ORL’s FY18 EPS upwards by 17.2% and by 17.6% for FY19. Yet severe fluctuations in raw material prices and stressed assets of Indian steel industry would be major irritants. We recommend ’buy’ rating on the stock with target price of Rs 201 (previous target Rs 157) based on 24x FY19e earnings.
Net Sales and PAT of the company are expected to grow at a CAGR of 8% and 6% over 2016 to 2019E respectively.Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.
Net Sales and PAT of the company are expected to grow at a CAGR of 9% and 17% over 2017 to 202GB, respectively. Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.