Shares of PCBL (erstwhile Philips Carbon Black) surged over 3% on BSE 133 each on the record date for sub-division or split of one equity share into two equity shares in Tuesday’s opening trading session.
PCBL had fixed April 12, 2022 as the record date for stock split in the ratio of 1:2 i.e. an existing share of face value 2 gets subdivided into two shares. chemical stock Started ex-split trading from Monday (April 11, 2022).
Domestic brokerage and research firm ICICI Securities has maintained its positive outlook on Philips Carbon Black shares and maintained a buy rating on the stock along with ratings from PCBL. stock split adjusted target price 160.
“Healthy double-digit growth on the anvil. We expect sales in FY 2011-24 E, PAT 23%, 16%, CAGR, at 11.4% volume CAGR respectively, with greenfield expansion under execution (approximately 150 KT) and made in special carbon black domain With successful moves, the long-term growth prospects are strong amid limited competition in overseas markets, which may act as a key trigger for future price performance,” according to the brokerage.
PCBL, a part of the RP-Sanjeev Goenka Group, is the largest carbon black manufacturer in India. The share price of PCBL has grown almost 3 times in the last five years.
ICICI Securities said PCBL has a healthy margin profile (15%+), a capital efficient business model (ROCE > 15%), with limited leverage (~0.3x debt:equity) on the balance sheet.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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