We have assigned BUY rating on GLS, on the back of proven execution capabilities, strong financials and long-term expansion plans in APIs and CDMO. We believe the change of ownership could be beneficial especially on the expansion front
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Zomato is priming the innovation engine & is the top pick in the Indian internet space. Buy for target price of ₹300 (63% upside): ICICI Securities
Zomato’s ability to ‘execute’ at scale is well recognised by investors. We believe the company is now gearing up to improve its credentials as an ‘innovator’. We note it has launched multiple new initiatives in the past 40 days which aim at improving customer experience or exploring adjacencies in its core ‘food delivery’ business.
Huhtamaki has embarked on ‘Project Parivartan’ & is on the verge of turnround. Buy for target price of ₹434 (41% upside): SMIFS
Huhtamaki India Ltd. One-offs impacted profitability in Q1, On the verge of a Turnaround, Upgrade to BUY The company reported good show excluding the one-offs. Revenue declined by ~8% YoY but grew by mere ~1% QoQ. Lower volumes on YoY basis impacted the topline. Gross margin expanded by 332bps YoY but declined by 44bps QoQ […]
Patel Engineering has huge Opportunity ahead. Buy for target price of ₹80 (36% upside): ICICI Direct
Hindalco is a Conviction Idea which is enriching product portfolio for long term growth. Buy for target price of ₹780 (26% upside): ICICI Direct
We have a positive view on Hindalco driven by its strategic capacity expansion at Novelis and Indian operations, structural drivers in place for healthy demand of Aluminium metal and controlled leverage on B/S (Debt: Equity at ~0.5x). We assign BUY rating on the stock with target price at ₹780 wherein we have valued it at 7.5x EV/EBITDA on FY26E
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