The stock is currently trading at a P/B multiple of 1.8x/1.7x on FY2025E/FY2026E and offers a buying opportunity. Hence, we retain our Positive view on the stock with an upside potential of 45% owing to its strong growth outlook over medium to long term
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Top 15 Stock Picks for upto 50% upside by Axis Securities
we maintain our Dec’24 Nifty target at 23000 as we value it at 20x on Dec’25 earnings. The current level of India VIX is below its long-term average, indicating that the market is currently in a neutral zone (neither panic nor exuberance). While the medium to long-term outlook for the overall market remains positive, we may see volatility in the short run with the market responding in either direction. Keeping this in view, the current setup is a ‘Buy on Dips’ market. We recommend investors to remain invested in the market and maintain good liquidity (10%) to use any dips in a phased manner and build a position in high-quality companies (where the earnings visibility is quite high) with an investment horizon of 12-18 months
ITD Cementation has healthy financial performance & Robust and diversified order book position. Buy for target price of Rs 353 (15% upside): SBI Securities
Reasonable valuation: At the current market price, the stock trades at FY24E/FY25E P/E multiple of 20.3x/14.1x based on Bloomberg consensus earnings. We believe the valuation to be reasonable given the robust order book position of the company, strong execution capabilities and positive outlook on the overall infrastructure space
South Indian Bank’s acceleration in transformation will drive valuation. Buy for target price of Rs 35 (25% upside): ICICI Direct
With business transformation imbibed & new competitive leadership,
current trajectory of business restructuring is expected to continue.
Increased focus on retail & MSME segment to aid granularization and
margins which is expected to drive RoA at ~0.9-1% ahead. Valuing the
stock at 0.8x FY26E BV, we assign a target of ₹ 35 and recommend a BUY
BSE is gaining strength. Buy for target price of Rs 3050 (24% upside): HDFC Sec
The stock is up 86% in the last six months, led by market share gains, and it is currently trading at a P/E of 38/30x FY25/26E vs 5Y average 1Yfwd P/E ~21x. Our base case assumes an 11% premium market share, revenue/PAT CAGRs of 44/57% over FY23-26E and a core multiple of ~40x resulting in a ~24% upside. The bull case assumes a 15% premium market share, 52/67% revenue/PAT CAGRs over FY23-26E and 45x multiple, resulting in a ~66% upside from CMP
InterGlobe Aviation is firmly poised to drive the “Towards newer heights and across new frontiers” strategy. Buy for target price of Rs 4009 (22% upside): ICICI Securities
We have been positive on InterGlobe Aviation (IndiGo) led by favourable demand-supply equation and its strong position (balance sheet, market share, management strength and orderbook). The company, in its recent analyst meet (on 22 Mar’24), reaffirmed its three principle strategic pillars: (1) Reassure (on time performance, affordable fares, courteous & hassle-free service and unparalleled network), […]
Review of three key footwear companies, CAMPUS, METRO & Relaxo by SMIFS
We initiate coverage on the three key footwear companies. Based on the current valuations and growth outlook over FY24E-26E, we have assigned BUY ratings to CAMPUS (TP: Rs294, 30% upside), BUY ratings to METRO (TP: Rs1338, 19% upside) and SELL rating to RLXF (TP: Rs763, 8% downside)
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