Motilal Oswal has given Buy recommendation for Kaveri Seeds recommended buy rating on the stock with a target price of Rs 635 in its research rep with a target price of Rs. 635 in its research report issued on Feb 15, 2022

Motilal Oswal’s research report on Kaveri Seeds

Kaveri Seeds (KSCL) reported in-line sales in 3QFY22 with higher sales growth in selection rice (+44 % YoY) and maize (13% YoY). Its operating performance was better than our estimate. We largely retain our FY22E/FY23E/FY24E earnings for KSCL. Its 3QFY22 revenue contributed to just 13% of its total annual revenue. We value the stock at 11x FY24E EPS to arrive at our TP of INR635. Reiterate BUY with a 24% potential upside.

Outlook

We largely maintain our FY22E/FY23E/FY24E earnings for KSCL. Its 3QFY22 revenue contributed to just 13% of its total annual revenue. We value the stock at 11x FY24E EPS to arrive at our TP of INR635. Reiterate BUY with a 24% potential upside.

More Info on Trent

At 13:58 hrs Kaveri Seed Company was quoting at Rs 522.50, up Rs 3.90, or 0.75 percent.

It has touched an intraday high of Rs 524.00 and an intraday low of Rs 515.25.

It was trading with volumes of 5,203 shares, compared to its thirty day average of 12,777 shares, a decrease of -59.28 percent.

In the previous trading session, the share closed up 1.21 percent or Rs 6.20 at Rs 518.60.

The share touched its 52-week high Rs 815.85 and 52-week low Rs 468.55 on 17 May, 2021 and 29 November, 2021, respectively.

Currently, it is trading 35.96 percent below its 52-week high and 11.51 percent above its 52-week low.

Market capitalisation stands at Rs 3,047.31 crore.

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