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Research House: Centrum Broking
Advice: Buy
Stock price: Rs 877
1-year target price: Rs 1,218
Potential Upside: 38.9%
Comment: Maintain ‘buy’ due to its strong execution track record, robust earnings growth and lean balance sheet. The executable order book, coupled with asset monetisation, provides greater comfort for future growth.
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Research House: ICICI Securities
Advice: Buy
Stock price: Rs 510
1-year target price: Rs 700
Potential Upside: 37.3%
Comment: Maintain ‘buy’ due to continuation in new product launches, focus on volumes and margin expansion, cost optimisation, strong FCF generation, lower product penetration and inability of other brands in gaining market share.
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Research House: Dolat Capital
Advice: Buy
Stock price: Rs 1,372
1-year target price: Rs 1,822
Potential Upside: 37.3%
Comment: Maintain ‘buy’ due to continuation in new product launches, focus on volumes and margin expansion, cost optimisation, strong FCF generation, lower product penetration and inability of other brands in gaining market share.
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Research House: Nuvama
Advice: Buy
Stock price: Rs 1,107
1-year target price: Rs 1,428
Potential Upside: 29%
Comment: Maintain ‘buy’ due to steady growth in order book, lower debt, rising incremental diversification, strong presence in asset ownership, likely cut in cost of capital via asset monetisation, and experienced management.
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Research House: Sharekhan
Advice: Buy
Stock price: Rs 823
1-year target price: Rs 999
Potential Upside: 21.4%
Comment: Maintain ‘buy’ as its robust order book provides strong revenue visibility. Also, expertise in aluminium alloy castings, new product additions, better product mix and focus on EV projects are key positives.
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Advice: Buy
Stock price: Rs 1,366
1-year target price: Rs 1,655
Potential Upside: 21.2%
Comment: Upgrade to ‘buy’ due to strong growth in P&A brands and margin improvement, led by backward integration and premiumisation of portfolio. Also, new product launches, better execution and scaling up of existing brands are key positives.
Source: ETIG
*STOCK PRICES AS ON NOVEMBER 16
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