ET Online|
Research House: HSBC
Advice: Buy
Stock Price: Rs 1,407
1-year Target Price: Rs 1,930
Potential Upside: 37.2%
Comment:Retain ‘buy’ due to strong show in December quarter, with healthy revenue growth and stable margins. Its structural growth is aided by investment cycle for auto OEMs. Chinese EV players’ entry in Europe bodes well.
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Research House: Nuvama
Advice: Buy
Stock Price: Rs 406
1-year Target Price: Rs 550
Potential Upside: 35.5%
Comment:Retain ‘buy’ as the growth momentum is expected to continue due to its technical prowess. Strong order book, premiumisation, EV penetration, import substitution and initiatives in low-cost automation are other positives.
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Research House: Axis Securities
Advice: Buy
Stock Price: Rs 2,378
1-year Target Price: Rs 3,100
Potential Upside: 30.4%
Comment: Maintain ‘buy’ due to promising prospects, led by strong demand in the premium and luxury watch space, increasing share of high-margin exclusive brands, and diversification in fast-growing luxury segments.
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Research House: Systematix
Advice: Buy
Stock Price: Rs 85
1-year Target Price: Rs 110
Potential Upside: 29.4%
Comment: Retain ‘buy’ due to improved profitability of the sugar segment in the December quarter amid higher realisations. Likely improvement in gross recoveries, with shift towards better cane varieties and inexpensive valuations, are key positives.
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Research House: Antique Stock Broking
Advice: Buy
Stock Price: Rs 400
1-year Target Price: Rs 480
Potential Upside: 20%
Comment: Maintain ‘buy’ amid expectations of demand normalisation in the domestic and export markets in the future. Also, stability in realisations, better operating leverage and higher volume offtake will improve EBITDA margins in 2024-25.
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Research House: JM Financial
Advice: Buy
Stock Price: Rs 310
1-year Target Price: Rs 370
Potential Upside: 19.4%
Comment: Maintain ‘buy’ due to strong revenue growth in December quarter, led by all-round growth in electronics and consumer durables. Consistent margin improvement, better manufacturing and product mix are positives.
Stock prices as on February 22, 2024.
Source: ET Wealth Edition
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