Finolex Cables reported a 10.5% revenue increase in Q2, though operating profit margins fell to 8.1% due to volatile copper prices and high-cost inventory. The company plans a Rs. 500 crore capex over two years, with a target price of Rs. 1,300, reflecting strong long-term potential in the optic fiber segment.
Anand Rathi has maintained a Buy rating for Finolex Cables, setting a target price of Rs 1,577. The company faced challenges in Q2 due to declining copper prices and multiple price cuts, but stable copper prices and opportunities in the OFC segment with BharatNet are expected to drive growth in the second half of the year. A strong balance sheet and healthy cash flows further support the positive outlook.
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