We interacted with Power Finance Corporation (PFC) to understand the company’s revised growth outlook, evolving sector dynamics and asset quality trends. Here are the key takeaways
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Indraprastha Medical Corp’s re-rating hinges on Delhi govt. stake sale; maintaining it as top pick for target price of ₹590 (44% upside): Anand Rathi
We recently hosted in Mumbai the Indraprastha Medical management for an NDR. Key takeaways: a) discussion with the Delhi government for a stake sale in progress; timelines not defined, b) capacity increase with 350 beds at existing location likely to commence by mid-CY28, c) plans for further capacity expansions in place; awaiting board approvals, d) next SC hearing on scrutiny regarding EWS slated for 30th Jul’25. The stock is our top Buy in the space with a Rs590 TP (16x FY27e EBITDA) as we believe the (part or entire) stake likely to be sold by the Delhi government in the medium term, which should result in a re-rating for the name-opening avenues for further growth at old and new locations
SJS Enterprises is expected to outperform the industry growth by 2x. Buy for target price of ₹1425 (16.6% upside): JMFICS
We recently visited SJS’s manufacturing facilities in Bengaluru. The company has built end-toend capabilities, spanning from product ideation to final output. It covers all key technologies and is the only player among its peers in India to operate a 2K injection molding process. The company showcased its full range of new-age products (in-mold labelling (IML), in-mold design (IMD), in-mold electronics (IME), chrome plating, cover glass, etc.), highlighting how these offerings are expected to increase content per vehicle by 4x–6x compared to legacy products
Delhivery is expected to see significant re-rating. Buy for target price of ₹450 (24.7% upside): JMFICS
Delhivery has outperformed the market since announcing the acquisition of Ecom Express, we believe the uptick only reflects the benefits of consolidation. We expect significant re-rating considering the subdued headwinds over the coming year – 1) plateauing of Meesho’s insourcing at c.65%, and 2) rise in e-commerce shipments. Furthermore, we expect FY26 to see the peak impact of channel shift towards Quick Commerce and the impact would start tapering FY27 onwards
4 High Conviction PSU Banking Stocks by HDFC Securities
The Indian PSU banking (PSB) sector, once considered structurally broken, is experiencing early signs of a secular turnaround, buttressed by a combination of governance reforms (balance sheet repair and recapitalization), modernized digital stack, and a gradual turnaround in the quality and sustainability of earnings.
Subscribe to HDB Financial Services Ltd IPO. It is backed by strong parentage, brand, governance, risk management and a high credit rating: SBI Securities
HDB Financial Services Ltd (HDBFS) is categorized as an upper-layer NBFC by the Reserve Bank of India. It is the 4th largest diversified retail-focused NBFC (by Gross Loan Book size) as of Mar’25. It is a subsidiary of HDFC Bank, which is the largest private sector bank in India in terms of total assets as of Mar’25
Bansal Wire Industries: Capacity expansion, VAP are growth catalysts; initiating, with a Buy for target price of ₹550 (46% upside): Anand Rathi
Incorporated in 1985, Bansal Wire is the second largest manufacturer of steel wire in India and the largest stainless steel wire manufacturer. With five plants in north India it expects to raise consolidated capacity ~2.5x to 0.679m tonnes, surpassing Tata Steel’s ~7-8% market share in steel wiring. It is venturing into high-growth, high-margin steel cord, low relaxation prestressed concrete and bead wires
Top 15 Dividend Yield Companies
Top 15 Dividend Yield Companies as of 18th June 2025 in Large Cap, PSU Stocks, Mid Cap and Small Cap categories.
Swiggy is an asymmetric play to the upside! Buy for target price of ₹535 (50% upside): IIFL Capital
We initiate coverage on Swiggy with a BUY rating and 12-mth DCF based target price of Rs535, implying 50% potential upside. Swiggy is India’s second-largest food tech company, with Food delivery (FD), Quick commerce (QC), and other verticals. We forecast Swiggy to deliver 28% revenue Cagr over FY25-28ii and become Ebitda/PAT positive by FY27ii/28ii.
Siemens Energy is a play on decarbonization. Buy for target price of ₹3000 (28% upside): HDFC Securities
Siemens Energy India Ltd (SEL) captures the maximum value among its peers as it has products/solutions covering a larger market size, viz., decarbonization, power generation, power evacuation, grid automation, EPC services, and clean energy like green hydrogen and battery storage. Over the years, this has been a highly profitable business for Siemens India which has clocked 22.6% EBITDA margin during H1FY25 (5 months)
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