{"id":121597,"date":"2019-06-06T12:20:20","date_gmt":"2019-06-06T12:20:20","guid":{"rendered":"https:\/\/www.bnreport.com\/buy-timken-india-target-rs-830-icici-direct\/"},"modified":"2019-06-06T12:20:20","modified_gmt":"2019-06-06T12:20:20","slug":"buy-timken-india-target-rs-830-icici-direct","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/buy-timken-india-target-rs-830-icici-direct\/","title":{"rendered":"Buy Timken India, target Rs 830: ICICI Direct"},"content":{"rendered":"

ICICI Direct<\/a> has given a buy recommendation on Timken India (TIL) with a target price of Rs 830.<\/p>\n

Shares of Timken India traded at Rs 686.05 around 3 pm on 6 June, 2019. The brokerage has set a one-year horizon for the stock to hit the target price.<\/p>\n

As per the brokerage, TIL reported a stellar Q4FY19 performance on the back of over 2 times growth in railways segment. Exports segment grew at strong double digits for the quarter.<\/p>\n

Accordingly, revenues came in at Rs 448 crore, up 16.4 per cent quarter-on-quarter (QoQ). Gross margins came in at 46.1 per cent against 45.6 per cent QoQ due to better product mix.<\/p>\n

Ebitda margins came in at 22.6 per cent against 14.4 per cent QoQ due to lower other expenses (reassignment of products at ABCs Baruch facility).<\/p>\n

Absolute Ebitda grew 82.2 per cent QoQ to Rs 101.2 crore. Other income also jumped 2 times QoQ and PAT increased 116.5 per cent QoQ to Rs 57.2 crore.<\/p>\n

"To fully utilise ABC capacities, TIL is planning a capex of Rs 35-40 at its Bharuch facility (current utilisation at ABC at nearly 70 per cent). This will help TIL produce Timken brand bearings for its exports market," said the brokerage.<\/p>\n

As per the brokerage, access to new markets<\/a> and geographies along with operational synergies from the merged entity is likely to be key monitorable from Read More \u2013 Source<\/strong><\/a>
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ET Markets<\/a><\/h5>\n

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ICICI Direct has given a buy recommendation on Timken India ..<\/p>\n","protected":false},"author":1,"featured_media":121598,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-121597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nBuy Timken India, target Rs 830: ICICI Direct - Business News Report<\/title>\n<meta name=\"description\" content=\"ICICI Direct has given a buy recommendation on Timken India ..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/buy-timken-india-target-rs-830-icici-direct\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy Timken India, target Rs 830: ICICI Direct - 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