Research House: Antique Stock Broking
Advice: Buy
Stock Price: Rs 1,105
1-year Target Price: Rs 1,422
Potential Upside: 28.7%
Comment: Maintain ‘buy’ due to its steady return ratios, FCF generation and ability to scale up business with minimal investment. Aggressive store expansion and likely addition of retail space in the future are other positives.
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Research House: ICICI Securities
Advice: Buy
Stock Price: Rs 1,381
1-year Target Price: Rs 1,750
Potential Upside: 26.7%
Comment: Maintain ‘buy’ as its strong distribution network and better access in locations beyond tier 1 cities are leading to volume outperformance. Promising product pipeline, strong channel performance and likely margin resilience are key positives.
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Research House: Axis Securities
Advice: Buy
Stock Price: Rs 985
1-year Target Price: Rs 1,195
Potential Upside: 21.3%
Comment: Reiterate ‘buy’ due to strong demand visibility, ramped-up distribution network, adequate capital for scaling up of business, stable asset quality and expectations of doubling of AUM in the next three years.
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Research House: Kotak Securities
Advice: Buy
Stock Price: Rs 629
1-year Target Price: Rs 750
Potential Upside: 19.2%
Comment: Retain ‘buy’ due to the strong performance of its base business in terms of client acquisition and asset accumulation, investments in new verticals and expectations of decent earnings growth over the medium to long term.
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Research House: Sharekhan
Advice: Buy
Stock Price: Rs 7,211
1-year Target Price: Rs 8,532
Potential Upside: 18.3%
Comment: Retain ‘buy’ due to its superior profitability, play on premiumisation, and expectation of a gradual recovery in exports. Also, the management’s plans to expand its product bandwidth and distribution network for EV portfolio are key positives.
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Research House: Nuvama
Advice: Buy
Stock Price: 864
1-year Target Price: 1,020
Potential Upside: 18.1%
Comment: Maintain ‘buy’ due to its granular distribution network, solid presence in semi-urban and rural areas, strong brand recall, plans to increase overseas presence and growing SIP book.
*Stock prices as on January 31, 2024.
Source: ETIG
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