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Research House: JM Financial
Advice: Buy
Stock Price: Rs 265
1-year Target Price: Rs 370
Potential Upside: 39.6%
Comment: Recommend ‘buy’ as it is well placed to benefit from the growing biosimilars industry. Attractive product pipeline, free cash flow visibility, likely jump in margins and attractive risk-reward are key positives.
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Research House: ICICI Securities
Advice: Buy
Stock Price: Rs 1,583
1-year Target Price: Rs 2,000
Potential Upside: 26.3%
Comment: Maintain ‘buy’ due to likely recovery in structure directing agents (SDA) revenues, contribution from new products from 2024-25 onwards, decent prospects of electrolyte salt business and operating leverage benefits.
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Research House: HDFC Securities
Advice: Buy
Stock Price: Rs 1,902
1-year Target Price: Rs 2,400
Potential Upside: 26.2%
Comment: Maintain ‘buy’ as the volume growth will jump with the launch of new products like index and mini/weekly options and higher activity in crude/natural gas contracts. Also, likely cost reduction in 2024-25 will support performance despite uncertainty around the technology shift.
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Research House: Yes Securities
Advice: Buy
Stock Price: Rs 1,900
1-year Target Price: Rs 2,300
Potential Upside: 21.1%
Comment: Retain ‘buy’ as the growth momentum will continue due to strong volume growth in used vehicle financing, momentum in personal loans, diversified portfolio, expectations of strong growth in AUM and cross-sell synergies.
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Research House: Sharekhan
Advice: Buy
Stock Price: Rs 407
1-year Target Price: Rs 492
Potential Upside: 20.9%
Comment: Retain ‘buy’ due to likely strong room demand and high revenue per available room (RevPar) in the coming quarters. Improvement in cash flows, strengthening balance sheet, focus on becoming debt-free and strong industry tailwinds are key positives.
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Research House: Prabhudas Lilladher
Advice: Buy
Stock Price: Rs 1,889
1-year Target Price: Rs 2,266
Potential Upside: 20%
Comment: Initiate with ‘buy’ as it will be a beneficiary of the modernisation of India’s air defence. Also, robust order book, operating leverage benefits and focus on procurement of indigenous defence aircraft are key positives.
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