{"id":372970,"date":"2020-09-10T11:16:54","date_gmt":"2020-09-10T05:46:54","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=372970"},"modified":"2020-09-10T11:16:54","modified_gmt":"2020-09-10T05:46:54","slug":"analyst-corner-maintain-buy-on-cesc-with-tp-of-rs-760-stock-trades-fair","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/analyst-corner-maintain-buy-on-cesc-with-tp-of-rs-760-stock-trades-fair\/","title":{"rendered":"Analyst Corner: Maintain \u2018Buy\u2019 on CESC with TP of Rs 760, stock trades fair"},"content":{"rendered":"<p>CESC\u2019s 1Q results highlight the impact of lower volumes on the S\/A business. S\/A PAT declined sharply by 38% YoY, resulting in a miss on our estimates (29% miss).<\/p>\n<p>Consol. PAT, on the other hand, declined 15% YoY, partly supported by a better performance at Dhariwal. While a muted power demand environment has impacted profitability in the near term, the longer-term story remains intact. Performances at Dhariwal and distribution franchises (DFs) continue to improve. Despite factoring in the tightening of norms at Haldia and S\/A, the stock trades attractively at 7x FY21 P\/E. Maintain \u2018buy\u2019 with target price of Rs 760\/sh.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CESC\u2019s 1Q results highlight the impact of lower volumes on the S\/A business. S\/A PAT declined sharply by 38% YoY, resulting in a miss on our estimates (29% miss). Consol. PAT, on the other hand, declined 15% YoY, partly supported by a better performance at Dhariwal. While a muted power demand environment has impacted profitability in the near term, the longer-term story remains intact. Performances at Dhariwal and distribution franchises (DFs) continue to improve. Despite factoring in the tightening of norms at Haldia and S\/A, the stock trades attractively at 7x FY21 P\/E. Maintain \u2018buy\u2019 with target price of Rs [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-372970","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/372970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=372970"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/372970\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=372970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=372970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=372970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}