Emkay Global has given a buy rating to Triveni Turbine with a target price of Rs 86. The share price moved down by 1.17 per cent from its previous close of Rs 72.95. The stock’s last traded price is Rs 72.10.

Triveni Turbine Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 2337.50 Crore) operating in Engineering sector.

For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 165.17 Crore, up 7.32 % from last quarter Sales of Rs 153.91 Crore and down 22.68 % from last year same quarter Sales of Rs 213.63 Crore Company reported net profit after tax of Rs 28.71 Crore in latest quarter.

Investment Rationale
Dependence on international markets has helped TRIV in the past few years, though amid the uncertainty post-Covid, it has led to order deferrals. The brokerage expects a modest recovery from Q1 lows.

Promoter/FII Holdings
Promoters held 67.78 per cent stake in the company as of March 31, 2020, while FIIs held 12.25 per cent, DIIs 15.55 per cent and public and other 4.42 per cent.

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