Buy GE T&D India, target price Rs 166: ICICI Securities

ICICI Securities has buy call on GE T&D India with a target price of Rs 166. The current market price of GE T&D India Ltd. is Rs 141.15. Time period given by analyst is one year when GE T&D India Ltd. price can reach defined target.

GE T&D India Ltd., incorporated in the year 1957, is a Mid Cap company (having a market cap of Rs 3630.74 Crore) operating in Power sector.

For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 934.23 Crore, down -11.61 % from last quarter Total Income of Rs 1057.00 Crore and up 33.75 % from last year same quarter Total Income of Rs 698.47 Crore. Company reported net profit after tax of Rs 16.11 Crore in latest quarter.

Investment Rationale
Factoring in weak order intake and margin stress, the brokerage cuts FY21E earnings by 29.5% and improved cashflow to support marginal 3.3% increase in FY23E earnings. Given healthy cashflow, expected recovery in order intake and margins, the brokerage maintains BUY rating with a revised target price of Rs166 (earlier: Rs146).

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of March 31, 2021, while FIIs held 0.5 per cent, DIIs 15.1 per cent and public and others 9.4 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.)

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