Buy Carborundum Universal: target of Rs 611: Sharekhan

Trading Calls - Equity F&O

Sharekhan is bullish on Carborundum Universal has recommended buy rating on the stock with a target price of Rs 611 in its research report dated February 22, 2021.

Broker Research

February 24, 2021 / 02:48 PM IST

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Sharekhan’s research report on Carborundum Universal

CUMI, with its diversified user industries, is expected to gain traction, led by improvement in economic recovery, government-push spurring manufacturing activity, and automotive recovery with additional thrust from PLI schemes and auto scrappage policy. Improving overseas operations aided by capacity expansion, success of new products, and being an alternative global supplier are likely to aid exports growth. Strong balance sheet, healthy return ratios, and consistent dividend paying record are key salient features.

Outlook

We retain Buy on Carborundum Universal Limited (CUMI) with a revised PT of Rs. 611, considering its healthy earnings growth profile.

For all recommendations report, click here

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