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Research House: Centrum Broking
Advice: Buy
Stock price: Rs 1,686
1-year target price: Rs 2,432
Potential Upside: 44.2%
Comment: Maintain ‘buy’ due to expectations of gradual demand recovery, led by sharp pricing action to attract value seeking customers, lowering food inflation, and optimism from strong festive and wedding season.
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Research House: Motilal Oswal
Advice: Buy
Stock price: Rs 569
1-year target price: Rs 720
Potential Upside: 26.5%
Comment: Maintain ‘buy’ due to its creditable liability management, decline in costs supported by scale and productivity benefits, branch expansion and likely stabilisation in credit costs from the fourth quarter of 2023-24.
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Research House: Elara Capital
Advice: Buy
Stock price: 5,193
1-year target price: 6,432
Potential upside: 23.9%
Comment: Reiterate ‘buy’ due to better than expected performance in second quarter, led by strong volume growth and operating leverage benefits. Cost control initiatives and growth in corn seed business are key positives.
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Research House: Nuvama
Advice: Buy
Stock price: Rs 4,027
1-year target price: Rs 4,980
Potential Upside: 23.7%
Comment: Recommend ‘buy’ due to strong performance in second quarter, led by improved product mix in the US and lower input costs. Strong domestic franchise, chronic expansion and export turnaround are key positives.
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Research House: Sharekhan
Advice: Buy
Stock price: Rs 2,926
1-year target price: Rs 3,500
Potential Upside: 19.6%
Comment: Maintain ‘buy’ due to strong second quarter performance, led by superior order execution and favourable product mix. Expected jump in order intake and strong balance sheet are key growth drivers.
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Research House: Antique Stock Broking
Advice: Buy
Stock price: Rs 187
1-year target price: Rs 223
Potential Upside: 19.3%
Comment: Maintain ‘buy’ due to the expected recovery in demand and operating margins, supported by moderating inflation. Also, the strategy of aggressive store expansion and superior execution will help it to outperform its peers in the future.
Source: ETIG
*STOCK PRICES AS ON NOVEMBER 9
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