HALISTER1: Centrum Downgrades Indo Count on Lower Guidance from Management

Centrum Downgrades Indo Count on Lower Guidance from Management

(Bloomberg) -- Co. lowered FY18 volume guidance; expects better performance in 2H FY18, Mrinalini Chetty and Siddhartha Khemka, analysts with Centrum Wealth write in note dated August 18.
  • Lowering of guidance within one quarter, weak results don’t provide comfort
  • Improvement in demand to aid capacity utilization, which is key growth driver
  • Risks: further financial deterioration, currency, geographic concentration, upfront payments could narrow margins
  • Downgrades stock to neutral
  • Stock -5.4%; 9 buys, 2 holds, 1 sell recommendation, 12-month PT 148 rupees
To contact the reporter on this story: Nupur Acharya in Mumbai at nacharya7@bloomberg.net To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net Margo Towie

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ICNT IN (Indo Count Industries Ltd)

People
Mrinalini Chetty (Centrum Capital Ltd)
Siddhartha Khemka (Centrum Capital Ltd)

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