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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2018-07-16||Kesoram Industries L..||ICICI Securities Limited||76.80||76.80 (-47.92%)||Daily Note|
ICICI Securities Limited
No visible turnaround prompts us to drop coverage Despite divestment of non-core assets and disposal of tyre unit at Laksar to JK Tyre for | 2,195 crore in April 2016, the company's debt has remained elevated. In FY18, Kesoram Industries witnessed an increase in debt of ~| 800 crore to | 4098 crore mainly led by a rise in losses in tyre business and increase in non-current investment by | 649 crore. Further, we expect the company's cement business to witness margin pressure mainly led by a weak pricing environment and higher input cost. This was...
|2017-05-20||Kesoram Industries L..||HDFC Securities||147.65||147.65 (-72.91%)||Results Update|
|2017-04-21||Kesoram Industries L..||Religare||166.40||210.00||166.40 (-75.96%)||Top Picks|
Incorporated in 1919, Kesoram Industries (KIL), is a BK Birla Group company and is engaged in the manufacturing of tyre, rayon and cement. Both their brands Birla Tyres (Tyre division) and Birla Shakti(Cement division) are well recognised brands in the sector. Going forward with government's focus on infrastructure and affordable housing, the cement unit is going to do well apart from which the traction in auto sector is going to help in tyre division.
|2017-01-09||Kesoram Industries L..||ICICI Securities Limited||134.65||185.00||134.65 (-70.29%)||Buy|
|2016-08-26||Kesoram Industries L..||Religare||142.35||180.00||142.35 (-71.90%)|
KIL is a diversified company with business interests in Tyres, Cement and Rayon. Lower rubber prices & pick up in auto sector are the major triggers for the tyre business of the company wherein the company supplies to major auto OEMs in India as well as abroad. However, the bulk of revenue is driven by replacement market (~70%) which will see a strong rebound as the economy turns and demand revives.
|2014-09-29||Kesoram Industries L..||Ashika Research||123.40||176.00||123.40 (-67.59%)||Target met||Buy|