Top Stocks Today : IIFL Securities has Buy call on Finolex Industries - March 22

On March 22, IIFL Securities issued a buy recommendation for Finolex Industries, with a current market price of Rs 233.65. The brokerage firm has set a target price of Rs 245 for the stock, implying a potential upside of around 5%. This recommendation is based on the company's strong financial performance, robust demand for its products, and expansion plans. Finolex Industries is a leading manufacturer of PVC pipes and fittings, and its products are used in various sectors such as construction, irrigation, and telecommunications.

About Finolex Industries:

Finolex Industries Limited, incorporated in 1958, is a leading manufacturer of copper and fibre optic cables, along with PVC pipes and fittings in India. The company is recognized for its focus on quality and innovation. Finolex has a nationwide distribution network, catering to a diverse range of industries, including telecommunications, power, infrastructure, and construction. It operates manufacturing facilities across India and exports to over 80 countries. Finolex is known for its commitment to sustainability and has received numerous awards for its environmental practices.

52 Week Price Trend:

Finolex Industries (NSE: FINPIPE) is currently trading at Rs 233.65, within the range of its 52-week high of Rs 259.95 and 52-week low of Rs 158. The company's stock has experienced volatility over the past year, but has recently shown an upward trend. Given the company's strong financial performance and positive industry outlook, analysts believe that the stock has the potential for further growth. However, investors should conduct thorough research and consider market conditions before making any investment decisions.

Stratzy's MOST Analysis:

FINPIPE has been rated BBB by Stratzy's MOST Framework, which evaluates a company's fundamentals based on management, outlook, safety, and trend. This rating indicates that FINPIPE has medium fundamental risks. The rating is a composite score derived from individual assessments of each pillar, with scores ranging from AAA (lowest risk) to CC- (highest risk). An overall score of BBB suggests that FINPIPE has strengths in certain areas, but also has some weaknesses or areas that require improvement.

Company's Fundamentals:

Finolex Industries trades on the NSE under the symbol FINPIPE. Its current Stock PE ratio is 29.59, indicating that investors are willing to pay 29.59 times the company's annual earnings per share. The PB Ratio of 2.42 suggests that the market value of the company's assets is 2.42 times its book value. Finally, the Dividend Yield of 0.7% represents the annual dividend paid out per share as a percentage of the current market price, indicating a modest dividend income stream for investors.

Fundamental and Technical information provided in this blog were last updated on 22 Mar, 2024

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