Analyst Research Report Snapshot

Title:

Monsoon to revive fortune of KOEL and GC

Price:

$23.00

Provider:

IndiaNivesh Securities Pvt Ltd

Date:

12 Jun 2013

Pages:

3

Type:

AcrobatPDF

Companies referenced:

KIRO.NS GRVL.NS

Available for Immediate Download
Summary:

 Company Updates Monsoon to revive fortune of KOEL and GC | With onset of monsoon, KOEL and GC to benefit: Monsoon have already arrived in some parts of Kerala, Maharashtra and Andhra Pradesh on time. After taking in to account a higher probability of average monsoon for this season, we sense that higher Agri produce this season would lead to higher spending power on the part of farmers. With onset of monsoon in time, we expect GC and KOEL to report strong top-line growth from their Agri- business in Q1FY14E & Q2 FY14E numbers. Valuation: At CMP of Rs 66, GC is trading at FY14E and FY15E, P/E multiple of 10.2x and 9.2x, respectively. We maintain BUY rating on the stock with price target of Rs 94. At CMP of Rs 190, KOEL is trading at FY14E and FY15E, P/E multiple of 10.8x and 9.5x, respectively. We maintain BUY rating on the stock with price target of Rs 240.

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