Quess Corp Ltd (Quess) is India’s largest staffing/business services company with its business spread across staffing (WFM), facility management (OAM), BPO (GTS) and a platform (job portal Foundit). It is a leader in the flexi-staffing and facility management segment and is well placed to benefit from macro tailwinds like (1) formalisation of labour force, (2) proposed new labour laws, (3) push for creating a manufacturing hub through various PLI schemes, (4) creating internship opportunities, and (5) job generation in tier-2/3 cities
LTIMindtree has asymmetric risk-reward potential. Buy for target price of ₹8000 (33% upside): Motilal Oswal
We reiterate our BUY rating on LTIM due to its superior offerings in data engineering and ERP modernization, positioning it well to capture pre-GenAI expenditures. We anticipate LTIM to outperform its large-cap peers and expect low double-digit CC growth for FY26. LTIM could have managed its top-level churn rate more effectively post-acquisition. Nonetheless, we believe the toplevel attrition rate might remain benign going forward.
HDFC AMC sees improvement in yield, cost control boost margins. Buy for target price of ₹5200 (35% upside): Motilal Oswal
The increasing share of equity in the overall AUM, driven by an anticipated higher CAGR of 30% in equity AUM vs. overall AUM CAGR of 24%, will help to mitigate the potential decline in yields. We expect scale benefits from new businesses (Alternates & Passives) to translate into higher profitability
Kaynes Technologies is embracing change & elevating excellence. Buy for target price of ₹9100 (31% upside): Motilal Oswal
Kaynes Technologies (KAYNES) is one of the fastest-growing EMS companies in India, with diversified exposure to end-user industries across seven high-growth sectors. With ~62% revenue CAGR over FY21-24, the company is deepening its presence within existing sectors. Further, KAYNES continues to improve its margin profile (~15% in FY25E from ~9.7% in FY21) backed by a rising share of high-margin businesses
Page Industries is on the road to recovery; long runway for growth ahead. Buy for target price of ₹57,500 (+20% upside): Motilal Oswal
PAGE Industries (PAGE) is well-positioned to capitalize on India’s growing innerwear (9% of the apparel industry) and athleisure markets, aided by favorable macroeconomic trends such as rising incomes, urbanization, and a young population. The company holds a dominant position in the mid-premium innerwear segment, driven by its first-mover advantage, strong brand equity of Jockey, low-cost manufacturing, and a well-diversified product portfolio
Top 9 Stock Picks with up to 41% upside by IDBI Capital
We expect market to remain range bound with lot of volatility due to domestic as well as global events. Additionally, India earnings growth expectations remains muted with ongoing challenges such as slowing macroeconomic environment, weak earnings cycle, limited room for further valuation expansion, and the possibility of continued selling by FPIs.
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