VREL turned around its business with a 35%/70% growth in revenue/EBITDA in 9MFY24. Drivers such as new store expansion and a healthy increase in revenue/sq. ft. can lead to a healthy growth in revenue and EBITDA. RoE expansion to over 20% in FY26E from -4% can trigger a valuation re-rating
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Angel One is one of the best core portfolio plays on the secular growth story in the Indian capital markets. Buy for target price of ₹3580 (28% upside): HDFC Sec
ngel One remains one of the best core portfolio plays on the secular growth story in the Indian capital markets. However, we continue to believe that the unit economics is beginning to plateau, especially given early signs of diminishing marginal utility from newly-acquired customers. We maintain ADD with a target price of INR3,580 (20x Sep-25E EPS)
BJP’s 2024 manifesto promises policy continuity! Top Stock Ideas By MOFSL
The Nifty is trading well within its long-period average P/E of ~20x FY25E EPS. We continue to stay OW on domestic cyclicals, e.g., BFSI, Industrials, Real Estate and Consumer Discretionary, and maintain UW on IT with Equal Weight on Healthcare, Automobile, Metals, O&G and Telecom
Cello World is among the best in industry. Buy for target price of Rs 1100 (34% upside): Motilal Oswal
CELLO is currently trading at 34x FY26E EPS with RoE/RoCE of 32%/39% in FY26E. We believe that the company will be able to successfully scale up new businesses and expand SKUs and distribution reach in order to evolve as a leading brand in the respective segments. We reiterate our BUY rating with a TP of INR1,100 (premised on 45x FY26E EPS)
Cables and Wires are powering the Indian growth story. Three stocks to buy by Motilal Oswal
We initiate coverage on Polycab, KEI, and RRKABEL with a BUY rating as we expect them to benefit from the favorable industry trends and report healthy earnings growth over FY24-26. We believe these companies will maintain their premium valuations. We value: Polycab at 50x FY26E EPS to arrive at our TP of INR7,500, KEI at 50x FY26E EPS to arrive at our TP of INR5,000, and RRKABEL at 40x FY26E EPS to arrive at our TP of INR2,200
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