Buy TCI Express; target of Rs 1150: Sharekhan

Sharekhan is bullish on TCI Express has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated February 10, 2021.

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Sharekhan’s research report on TCI Express

OPM continued to outperform despite revenues being impacted by a weak November 2020. Expect revenue to improve as manufacturing activity picks up. Long-term guidance of doubling revenues and tripling net profit over four years remains intact.Pune and Gurgaon sorting centres to begin operations in Q4FY2021 and Q1FY2022, respectively. Company eyeing newer locations in Chennai, Mumbai, Nagpur and Indore.

Outlook

We retain a Buy on TCI Express Limited (TCI) with a revised price target of Rs. 1150 factoring a rise in estimates and strong profitable growth path.

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