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Research House: KR Choksey
Advice: Buy
Stock Price: Rs 460
One-year target price: Rs 754
Potential Upside: 63.9%
Comment: Initiate with ‘buy’ as it will benefit from opportunities in green energy and EV sectors. Also, wide product offerings, impressive client base, superior return ratios, and focus on debt reduction are key strongholds.
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Research House: Nuvama
Advice: Buy
Stock Price: Rs 1,557
One-year Target Price: 2,080
Potential Upside: 33.6%
Comment: Retain ‘buy’ due to a significant uptick in the box office collections, driven by the rising share of Hindi and Hollywood movies, the robust content pipeline for 2023-24, new screen additions, and synergy benefits in tickets, F&B, and costs.
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Research House: Axis Securities
Advice: Buy
Stock Price: Rs 376
One-year Target Price: Rs 470
Potential Upside: 25%
Comment: Maintain ‘buy’ as higher production, led by capacity expansion, along with higher VAP share, over 2024-25 and 2025-26, will drive growth. Also, stability in steel prices is expected to reduce inventory losses in the second half of 2023-24.
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Research House: JM Financial
Advice: Buy
Stock Price: 487
One-year Target Price: 600
Potential Upside: 23.2%
Comment: Maintain ‘buy’ due to an improvement in the gross margins in the first quarter, led by realisation improvements and in-house manufacturing benefits. Likely improvement in demand during the festive season, export opportunities and focus on market share expansion will drive growth.
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Research House: ICICI Direct
Advice: Buy
Stock Price: 2,114
One-year Target Price: 2,590
Potential Upside: 22.5%
Comment: Maintain ‘buy’ as it is strongly positioned to benefit from a buoyant industrial capex cycle. Robust order pipeline, focus on expanding capacity, growing product range and increasing share of exports are other positives.
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Research House: Antique
Advice: Buy
Stock Price: Rs 252
One-year Target Price: Rs 300
Potential Upside: 19%
Comment: Reiterate ‘buy’ due to new project wins, strong cash realisation, growth opportunities from TBCB and new verticals, promising 2032 outlook, and the discounted value of investments.
*STOCK PRICES AS OF 3 AUGUST
SOURCE: ETIG DATABASE AND BLOOMBERG
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