Buy Finolex Cables, price target Rs 410: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has a buy call on Finolex Cables Ltd. with a target price of Rs 410.0 . The current price of Finolex Cables Ltd. is Rs 384.7. Time period given by the analyst is Intra Day when Finolex Cables Ltd. price can reach defined target. Jayesh Bhanushali recommended to keep a stoploss at Rs 370 .

Finolex Cables Ltd., incorporated in 1967, has a market cap of Rs 5883.58 crore.

Finolex Cables Ltd. key Products/Revenue Segments include Electrical Cables which contributed Rs 3030.07 Crore to Sales Value (98.44 % of Total Sales), Electrical Cables which contributed Rs 3030.07 Crore to Sales Value (98.44 % of Total Sales), Other Operating Revenue which contributed Rs 47.72 Crore to Sales Value (1.55 % of Total Sales) and Other Operating Revenue which contributed Rs 47.72 Crore to Sales Value (1.55 % of Total Sales)for the year ending 31-Mar-2019.


For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 715.76 Crore, down -11.39 % from last quarter Sales of Rs 807.74 Crore and up .25 % from last year same quarter Sales of Rs 713.97 Crore Company has reported net profit after tax of Rs 97.02 Crore in latest quarter.

The company’s top management includes Dr.H S Vachha, Mr.Sumit N Shah, Mr.Shishir Lall, Mr.Sanjay K Asher, Mr.S B (Ravi) Pandit, Mr.Pradeep R Rathi, Mr.P G Pawar, Mr.Mahesh Viswanathan, Mr.D K Chhabria, Mrs.Namita V Thapar. Company has Deloitte Haskins & Sells LLP as its auditorrs. As on 30-09-2019, the company has a total of 152,939,345 shares outstanding.