Sharekhan has given Buy recommendation for Carborundum Universal with a target price of Rs. 611 in its research report issued on Feb 22, 2021
Sharekhan’s research report on Carborundum Universal
CUMI, with its diversified user industries, is expected to gain traction, led by improvement in economic recovery, government-push spurring manufacturing activity, and automotive recovery with additional thrust from PLI schemes and auto scrappage policy. Improving overseas operations aided by capacity expansion, success of new products, and being an alternative global supplier are likely to aid exports growth. Strong balance sheet, healthy return ratios, and consistent dividend paying record are key salient features.