Motilal Oswal has given Buy recommendation for Endurance Technologies recommended buy rating on the stock with a target price of Rs 1750 in its researc with a target price of Rs. 1750 in its research report issued on May 20, 2021
Motilal Oswal’s research report on Endurance Technologies
Endurance Technologies (ENDU) reported a strong all-round beat in 4QFY21, with both businesses surprising with their performances. While business recovery in the EU continues strongly, the India business is seeing the impact of the second COVID wave. ENDU’s outperformance of the underlying 2W industry would continue on the back of a content increase, the mining of recently added customers, and ABS supplies from 3QFY22.
ENDU is the best proxy on the 2W industry in India. We maintain our estimates and a Buy rating, with TP of INR1,750.