Hold Enkei Wheels India Ltd For Target Rs. 417 - Sushil Finance
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We had reinstated coverage on Enkei Wheels (India) Ltd. with an Accumulate rating on August 01, 2019 at Rs.354 for a target price of Rs.417 showcasing an upside of ~18%. Subsequently, the rating was changed to BUY our Q2 FY20 result update dated November 14, 2019 at the then prevailing price of Rs.308.
With the recent run-up in the share price, our Target Price for the stock is achieved. Thus, we change our rating from BUY to HOLD until we revisit our valuation model and estimates.
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