India's Greaves Cotton to benefit from EV strategy - Sharekhan

Greaves Cotton

28/12/2022 09:32

** Sharekhan remains positive on Greaves Cotton's  GRVL.NS 
growth prospects, led by its e-mobility business and recovery in
engines business
    ** Brokerage keep "buy" rating on GRVL, with revised PT of
183 rupees; GRVL last up 1.1% at 133.55 rupees
    ** Says Co's focus on new businesses, esp electric 2- and
3-wheelers, provides room for strong growth
    ** Expects GRVL to be a key beneficiary of demand recovery
in overall 3-wheeler industry
    ** Co plans to launch three products shortly to improve its
positioning in the e-mobility business, says Sharekhan
    ** However, brokerage says intensifying competition in the
EV space and inflationary pressure could affect GVRL
 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))