FINOLEX CABLE
BSE CODE : 500144
NSE : FINOLEX CABLES LTD
GROUP : B / S&P BSE 500
ISIN : INE235A01022
INDUSTRY : Other Elect.Equip./ Prod.
FACEVALUE : 2
CMP : 77.30
Finolex Cables Ltd (FCL) recently a month ago, It has been awarded an advance purchase order of over Rs. 200 crores for Metal Free Optical Fibre Cable (OFC) of the National Optic Fibre Network ("NOFN") backbone project. This project is targeted at providing connectivity to over 250000 gram panchayats across the Country for better e-governance, e-health services, and educational services to the people of India.
FCL is trading at an attractive valuation of 7x and 6.2x on FY14E and FY15E Adj.EPS of Rs 10.9 and Rs 12.4 respectively.
We Recommend BUY For Tgt 82 / 86 / 90 Cmp 77 SL 73.
