Indian business to remain the growth driver

Company

18 Dec 2024 | 5 Min Read

Amber Shukla recommends buying BSE SENSEX S&P CNX at INR 486 with a target price of INR 575 (+18%)

Company's financials show growth in India business and weak demand in Europe

India business expected to drive growth with pick-up in CVs and PVs

Europe business likely to remain weak, with Metalcastello expected to bottom out

Company aims to expand India business margins to 19% in the next 2-3 years

Stock trades at 19.9x/17.1x CY25E/CY26E EPS, reiterating a buy with a revised TP of INR 575