Greaves Cotton, BUY
Attractive valuation
Price Rs230 Target Price Rs442
Greaves Cotton Limited (GCL) reported results broadly in-line with our
expectations. Though the infrastructure equipment division reported robust
growth, engines segment reported subdued numbers. We believe the key trigger
for the stock going ahead will be the success of the twin engine cylinder that the
company has launched. We maintain BUY with target price of Rs.442
MK,
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