Nocil - Near Term Challenges Persist: Prabhudas Lilladher

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.We expect Nocil Ltd. to face near-term headwinds as near term outlook from Michelin and Bridgestone, the two largest global tyre manufacturers remains weak. Michelin has marginally raised its projections for CY23 from -3%/0% for passenger cars and light trucks to -1%/+1%. However, it has cut down its truck tyre outlook from previous -4%/-1% to - 6%/-4% respectively. Similarly, Bridgestone expects 'challenging conditions to continue throughout 2024 mainly in North America and Europe'. In nine months-CY23, global original equipment manufacturer demand for tyres has grown by 6% while demand for replacement tyres has declined by 1%. Reiterate cautious stand on the company with a target price of Rs 226 (unchanged) valuing it 20 times FY26 earnings per share of Rs 11.3. Downgrade to ‘Reduce’..Click on the attachment to read the full report:.Torrent Pharma - Well-Poised To Improve Earnings Outlook: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Nocil - Near Term Challenges Persist: Prabhudas Lilladher

Utilisation still at ~65% while management speaks of possible further expansion

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Nocil - Near Term Challenges Persist: Prabhudas Lilladher

Utilisation still at ~65% while management speaks of possible further expansion

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