Elgi Equipments Ltd
ELGIEQUIP

178.50

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176.55

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Buy
Reco. Price
Rs 180.10

Last updated on 02-Dec-2016

We recommend BUY as restructuring of overseas subsidiaries and improving utilization is expected to expand margins by 320bps in FY17E. We expect significant upside on FY17E P/E of 32.9x. Valuations appear cheap considering the stock is trading near its 5 year median P/E of 33.5x. (Target Price - Rs.224)
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50 DMA (.)
186.80
100 DMA (.)
183.60
200 DMA (.)
166.42
Weekly Range (.)
173.00
184.90
Monthly Range (.)
162.00
197.00
52 Weeks Range (.)
118.20
204.00
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