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Research House: Nuvama
Advice: Buy
Stock Price: Rs 932
1-year Target Price: Rs 1,195
Potential Upside: 28.2%
Comment: Reaffirm ‘buy’ due to strong performance in second quarter, led by lower credit costs and improved asset quality. Digital push, focus on risk-calibrated operating returns and strong balance sheet are key positives.
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Research House: Antique Stock Broking
Advice: Buy
Stock Price: Rs 388
1-year Target Price: Rs 488
Potential Upside: 25.8%
Comment: Recommend ‘buy’ due to the benefits of backward integration that will help lower input costs and first-mover advantage in energy storage. The company has also locked in sites for lower capex and is about to unlock value for green assets through a strategic stake.
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Research House: Sharekhan
Advice: Buy
Stock Price: Rs 521
1-year Target Price: Rs 650
Potential Upside: 24.8%
Comment: Maintain ‘buy’ due to wider product offerings, new partnership investments and improved persistency ratio. Lower drag from ICICI Bank channel and push in lower-ticket value to drive volumes over medium term.
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Research House: Systematix
Advice: Buy
Stock Price: Rs 664
1-year Target Price: Rs 815
Potential Upside: 22.7%
Comment: Suggest ‘buy’ due to likely normalisation of volume growth, margin protection due to inventory build-up, contribution from new Kenya plant, organic foray in the Maharashtra market and attractive valuations.
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Research House: Axis Securities
Advice: Buy
Stock Price: Rs 450
1-year Target Price: Rs 540
Potential Upside: 20%
Comment: Maintain ‘buy’ due to buoyant outlook for all its business segments. Stable cigarette volumes, likely jump in FMCG business, continued stable performance of paperboards and agri segments, and likely improvement in return ratios from hotel business demerger are key positives.
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