Prabhudas Lilladher Top Pick Is This Multibagger Mid Cap Engineering Stock, Buy

Leading brokerage firm Prabhudas Lilladher has assigned buy call to Engineering sector stock, Triveni Turbine Ltd with a target price of Rs 328 apiece. If you buy the stock at the current market price of Rs 285 apiece, it will fetch you a potential return of up to 15%. Check vital details pertaining to Triveni Turbine below:

1. Board Of Triveni Approves 190 Crore Share Buyback

The board of directors stated in the regulatory filing, "The Board has approved the proposal for buyback of equity shares of the Company of Re 1/- through tender offer route at a price of Rs 350/- per share for an aggregate amount not exceeding Rs One hundred ninety crore .The Buyback offer is subject to the approval of the shareholders by special resolution by means of Postal Ballot."

2. Triveni Turbine Ltd Stock Outlook

The last trading price of the stock is Rs 285 apiece with 52-week high at Rs 305 apiece and 52-week low is Rs 146 apiece, respectively. The company has a market capitalisation of Rs 9223 crore.

3. Triveni Turbine Ltd Return

The stock has given a return of 118% in last 5-years, 168% in last 3-years, and 43% in last 1-year. The stock has surged 53% in last 3-months.

4. Triveni Turbine Valuation

According to Prabhudas Lilladher, "Given robust demand outlook and likely margin improvement we revise upwards our FY23/24 EPS estimates by 5%/11.4%. The stock is trading at PE of 52x/37.1x/30.2x FY23/24/25E. The brokerage rolls forward TP to FY25E with revised TP of Rs328 (Under Review earlier), valuing it at PE of 35x FY25E EPS and assign 'BUY' rating.

5. About Triveni Turbine

Triveni Turbine Ltd. is a leading industrial steam turbine manufacturer, with a dominant market share of over 60% in India.

Over 5,000 steam turbines supplied by Triveni have been installed across 20 industries in over 70 countries, including Europe, Africa, Central & Latin America, SE Asian and SAARC countries. The mid-cap company was incorporated in 1995 and operates in Engineering sector.

Disclaimer

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.