SAIL share price: Motilal Oswal raises target price to Rs 104
Motilal Oswal says with limited capex and higher pricing; SAIL should drive significant deleveraging and boost equity value. Motilal Oswal estimates net debt to decline by Rs 232 bn (Rs 56/sh, 76% of CMP) over FY20-23E to Rs 305 bn. Motilal Oswal also expects higher dividend payouts going forward (implying 5% yield), supported by strong FCF of Rs 19/sh (25% yield).
Motilal Oswal are raising our FY22E/FY23E EBITDA estimate by 34%/37% and target price by 28% on expectation of higher realization and volumes: Reuters