Buy TCI Express, target price Rs 2000: ICICI Direct

ICICI Direct has buy call on TCI Express with a target price of Rs 2000. The current market price of . is Rs 1654.4. Time period given by analyst is one year when Ltd. price can reach defined target.


TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 6338.41 Crore) operating in Logistics sector.

TCI Express Ltd. key Products/Revenue Segments include Freight & Demurrage for the year ending 31-Mar-2021.

Financials

For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 300.28 Crore, up 3.91 % from last quarter Total Income of Rs 288.99 Crore and up 6.16 % from last year same quarter Total Income of Rs 282.86 Crore. Company reported net profit after tax of Rs 35.93 Crore in latest quarter.

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Investment Rationale
Strong FCF generation due to efficient working capital management, higher growth, better margins from newer businesses and robust capital structure, make TCI Express well positioned to maintain and strengthen its leadership position among logistics peers.

Promoter/FII Holdings
Promoters held 66.69 per cent stake in the company as of 31-Mar-2022, while FIIs owned 2.0 per cent, DIIs 8.12 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.

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