ICICI Securities predicts a potential 42% drop in Mazagon Dock Shipbuilders stocks
ICICI Securities, one of India’s leading brokerage firms, has predicted a 42% drop in the value of Mazagon Dock Shipbuilders stocks. The firm has given the stock a “Sell” rating and has set a target price of ₹600. The stock is currently trading at ₹1,019.00, up by 3.34% on the NSE.
Mazagon Dock Shipbuilders has been one of the best-performing stocks over the past year, delivering a multi-bagger return of 269.60%. However, the brokerage firm has expressed concern about the company’s order inflow, which could impact its future prospects.
According to ICICI Securities, the company’s Q4 FY21 results were 50% higher than its estimates. However, the firm remains cautious due to the uncertainty surrounding the company’s order book. The brokerage firm has predicted that the company’s order execution may peak in FY25, which could lead to a decrease in its free cash flow.
Despite the concerns raised by ICICI Securities, Mazagon Dock Shipbuilders has performed well in the current financial year, with a gain of 29.29% so far. The stock has also gained 32.59% in the last month.
In Q4 FY21, the company’s total income rose by 50.11% to ₹2,289.83 crore and its net profit was ₹296.79 crore.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to seek certified experts’ advice before taking any investment decisions.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com