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Research House: Axis Securities
Advice: Buy
Stock price: Rs 418
1-year target price: Rs 600
Potential Upside: 43.5%
Comment: Initiate with ‘buy’ due to its strong order book, sectoral tailwinds, capacity expansion, multiyear revenue visibility, export opportunities, likely improvement in margins and robust balance sheet strength.
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Research House: Antique Stock Broking
Advice: Buy
Stock price: Rs 267
1-year target price: Rs 361
Potential Upside: 35.2%
Comment: Maintain ‘buy’ due to the large order pipeline in the power sector and robust business opportunities in railways, defence and the renewable energy sectors. Also, strong execution and healthy operating leverage will support exponential earnings growth over the next three years.
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Research House: PhillipCapital
Advice: Buy
Stock price: Rs 1,481
1-year target price: Rs 1,937
Potential Upside: 30.8%
Comment: Initiate with ‘buy’ due to strong industry tailwinds and multiple growth levers in the form of dealer additions, scale up of Apple Chemie business and opportunities within the industrial and project business segments.
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Research House: JM Financial
Advice: Buy
Stock price: Rs 1,528
1-year target price: Rs 1,965
Potential Upside: 28.6%
Comment: Initiate with ‘buy’ as likely increase in the CDMO contract revenue share will provide long-term sales visibility. Also, strong R&D, likely improvement in free cash flows and electrolyte additive sales are other positives.
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Research House: BNP Paribas
Advice: Outperform
Stock price: 388
1-year target price: 475
Potential Upside: 22.3%
Comment: Rate ‘outperform’ due to attractive valuations. Also, Vodafone India’s (its second-largest tenant) recent $3.6 billion network equipment deal will improve the company’s revenue potential.
Source: ET Wealth Edition September 30, 2024
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