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Research House: Nuvama
Advice: Buy
Stock price: Rs 1,666
1-year target: Rs 2,210
Potential Upside:32.7%
Comment: Reiterate ‘buy’ due to strong second quarter metrics, likely rebound in occupancy, dominant share in multiplexes, gradual recovery in ad revenue, continuing margin improvement, and focus on debt reduction.
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Research House: Jefferies
Advice: Buy
Stock price: Rs 949
1-year target: Rs 1,245
Potential Upside: 31.2%
Comment: Retain ‘buy’ due to expectations of improved demand for wires in the second half of 2023-24, strong outlook of electricals segment, traction in margin-accretive segments, better operating leverage and capacity expansions.
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Research House: Antique Stock Broking
Advice: Buy
Stock price: Rs 431
1-year target: Rs 565
Potential Upside: 31.1%
Comment: Initiate with ‘buy’ due to its strong brand portfolio, stable cash flows, strengthening balance sheet and strong industry tailwinds. Also, corrective actions taken to improve supply chain will drive long-term value.
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Research House: JM Financial
Advice: Buy
Stock price: Rs 2,368
1-year target: Rs 3,040
Potential Upside: 28.4%
Comment: Maintain ‘buy’ due to likely improvement in refrigerant gas prices, strong outlook of specialty chemicals business, led by new launches and ramp-up of existing products, and growth opportunities in fluorochem
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Research House: Nirmal Bang
Advice: Buy
Stock price: Rs 1,553
1-year target: Rs 1,859
Potential Upside: 19.7%
Comment: Maintain ‘buy’ as demand is expected to remain robust on the back of a strong order book in the auto segment. New capacity additions, growth prospects of farm machinery, realty and logistics segments are key positives.
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Research House: Geojit
Advice: Accumulate
Stock price: Rs 393
1-year target: Rs 464
Potential Upside: 18.1%
Comment: The long-term prospects are positive owing to new product launches, focus on backward integration and increased market share in existing geographies. However, delayed launches of some of the molecules are likely to impact the revenue.
Source: ETIG
*Stock prices as on December 7, 2023.
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