Increased risk weighs on FINOLEX CABLES, penalising its rating down to Neutral
The independent financial analyst theScreener just lowered the general evaluation of FINOLEX CABLES (IN), active in the Electrical Components & Equipment industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date January 21, 2022, the closing price was INR 499.90 and its target price was estimated at INR 439.71.Finolex Cables is engaged in the development, manufacture, sale and export of electrical and telecommunication cables. Co. manufactures light duty cables, including cables for providing building electricity for industrial use and for appliances, winding wires and cables for submersible pumps, automobile cables and welding cables. Co. also manufactures electrical conductors, wires and strips, jelly filled telephone cables, XLPE cables, high frequency/radio frequency cables, LAN cables, steel wire reinforced plastic conduits polyethylene and cross linked polyethyelene and other compounds. Co., through its subsidiary, produces cast copper rods.
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