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Talbros Automotive hits 52-week high, Ventura initiates buy with target Rs 353

Talbros Automotive hits 52-week high, Ventura initiates buy with target Rs 353
November 28
23:05 2017
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Shares of Talbros Automotive Components touched 52-week high of Rs 298.40, gaining 19 percent intraday Tuesday as Ventura initiated coverage with a buy rating with a target of Rs 353 per share.

According to the broking house the company is all set to resume its high growth trajectory after a period of consolidation.

The firm expects company’s revenue to grow to Rs 487.1 crore by FY20 from Rs 328.8 crore in FY17 and also expecting revenue/EBITDA/net profit to grow at a CAGR of 14 percent/16.5 percent/33.5 percent over FY17-20.

It feels that the electric vehicles are a threat but impact is coming into play post 2023, while forgings segment will boost because of new international orders from OEMs.

The heat shields and aftermarket segment will also help the company to achieve high growth, it added.

graph_talbros

At 11:10 hrs Talbros Automotive Components was quoting at Rs 292, up Rs 40.95, or 16.31 percent on the BSE.

Posted by Rakesh Patil

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