Finolex Cables Share Price Target Forecast 2022, 2023, 2025, 2030

25 NOVEMBER 2021

Finolex Cables’ Share Price Target Is Rs 663 By 2022: Geojit

Geojit recommended Accumulate Rating on Finolex Cables with a target price of Rs 663 in a research report dated November 24, 2021.

Finolex Cables Ltd (FCL) is India’s largest maker of electrical and communications cables, accounting for 80% of sales (16 percent ). FCL has a large distribution network and a strong brand recognition. Revenue and profit increased by 45 percent and 117 percent, respectively, in Q2FY22, thanks to strong growth across all segments. Due to cost optimization, gross margin fell 400 basis points year over year, but EBITDA margin fell just 10 basis points to 12.8 percent.

Overall, the demand prognosis has improved, owing to a decrease in demand, a resurgence in building activity, and improved consumer mood. H2FY22E’s performance is predicted to improve as a result of improved vaccination efforts and a substantial increase in economic activity. Given its clean balance sheet, solid cash flows, and high profits forecast of 28 percent CAGR in FY 2011-23E, we continue to have a favourable perspective on FCL.

Outlook

For FY23E, we value FCL’s core business at 17x P/E and recommend that FCL “Accumulate” its investment in Finolex Industries in order to reach the SOTP price target of Rs 663 at Rs 149.

Moneycontrol.com is the source for this information.


22 NOVEMBER, 2021

Target price for Finolex Cables; trading ideas for the next 3-4 weeks

Karan Pai, Technical Analyst at GEPL Capital, has recommended this stock.

Finolex Cables: Buy | LTP: Rs 585.90 | Stop Loss: Rs 540 | Target: Rs 750

Since March 2020, Finolex Cables has been generating a higher High-High Low pattern. Prices are heading higher on the weekly chart after creating a double-bottom pattern near the Rs 440 mark. The prices gained pace in the week ending November 18, 2021, and climbed over the previous swing high of Rs 557.

As the price approaches a new 52-week high, the RSI is going towards overbought levels, indicating that the price is headed higher.

We estimate the price to rise to Rs.684 as the positive momentum continues. If prices continue to rise beyond Rs 684, we may see a move above Rs 750. The closing level of Rs 540 would be the stop loss for this trading set.

Moneycontrol.com is the source for this information.


13 SEPTEMBER 2021

Finolex Cables Share Price Target; Trading Ideas for the Next 3-4 Weeks Finolex Cables Share Price Target

Palak Kothari, Research Associate, Choice Broking, recommends

Finolex Cables: Buy | CMP: Rs 494.50 | Stop-Loss: Rs 470 | Target: Rs 520-530 | Return: 5.2-7.2 percent

Finolex Cables has broken out of the Cup and Handle pattern, which is a bullish reversal pattern, on the daily time period. It’s erected on top of it, implying that the counter is facing north. Furthermore, the stock has rallied back from the 21-DMA level as well as the horizontal line, adding to its upward strength.

The MACD and Stochastic indicators have also delivered a positive crossing, indicating a strong upward tilt in the stock. Furthermore, the price may find instant support at the 50 percent Fibonacci retracement level, indicating a near-term bullish surge in the counter. We anticipate positive momentum based on this technical component.

Moneycontrol.com is the source for this information.


06 JULY 2021

Sharekhan’s price target for Finolex Cables is Rs 623.

Sharekhan is bullish on Finolex Cables, recommending a buy rating on the company with a target price of Rs 623 in a research report dated July 5, 2021.

FNXC had a great quarter, with significant sales growth and consistent operating profit margins year over year. Due to stronger volume growth across product categories, its standalone revenue increased by 41% year over year to Rs. 921.4 million (better than expected).

The communication cable segment has already had solid tendering in the first quarter of FY 2022 and has developed its FMEG business with rising demand and a strong dealer network, so we predict significant success in FY 2022. The company’s robust operational cash flow generation, stringent working capital management (advance payment policy from dealers), and modest capital investment are likely to boost its cash reserves even more.

Outlook

Finolex Cables Ltd (FNXC) retains its Buy rating with a revised PT of Rs. 623, owing to improved distribution initiatives that have resulted in increased volumes.

Moneycontrol.com is the source for this information.


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