Favorable market dynamics, flex seat demand to grow at 23.3% CAGR over 2023-26E, led by i. Sharp increase in the number of start-ups ii. Influx of GCCs given the strong, diverse and relatively low-cost talent pool iii. Rising need for a flexible workspace on hybrid mode of working, ‘return to office’, decentralization iv. Mutual commercial benefits of flex workspaces for both, owner and tenant v. Supply to lag demand growth, inventory set to grow at 16.6% CAGR over 2023-26E
Posts in category investments
Pharma is back on the growth track with robust revenue, higher profitability & cost optimization. Top 3 Pharma stocks to buy by Axis Securities
In Q1FY25, the Pharma Coverage universe posted robust revenue growth of 11%/4% YoY/QoQ, driven by a strong domestic market, new launches (especially Darunavir, DDR D, gMyrbetriq, and gSpiriva), lower price erosion, gross margin expansion through cost optimization, and growth in the US base business portfolio. EBITDA margin improved by a healthy ~250bps/120bps YoY/QoQ amidst normalizing cost inflation and stabilizing prices.
Aditya Birla Capital Ltd is a financial conglomerate well poised for accelerated growth!!! Buy for target price of ₹280 (26.2% upside): SBI Securities
Aditya Birla Capital Limited (ABCL) is a diversified financial services group that operates in various businesses including non-banking finance, housing finance, life insurance, standalone health insurance, asset management, stock and securities broking, wealth services and asset reconstruction. ABCL has envisioned the ‘One ABC One P&L’ approach, which focuses on a business strategy that revolves around the three levers i.e One Customer, One Experience and One Team. ABCL has been prioritizing creating seamless, technology-driven loan processes by utilizing its group-level ecosystem
Nifty 12 month target using FY25E EPS & PE of 22x is 27,500. Use dips to build a long-term portfolio of quality stocks: ICICI Direct
Incorporating revised earnings, our estimates don’t undergo any major change. We value Nifty at 27,500 i.e. 22x PE on FY26E, offering healthy 12% potential upside. This is our 12 months rolling target. We are upgrading our PE valuation multiples to 22x vs. 20x earlier amid greater macro-economic stability, firm political mandate, thrust on policy continuity & further attractiveness of equity as an investment class vs. peers. Decline in interest rates will be further positive.
APL Apollo Tubes Ltd’s valuation still looks attractive for long-term investors on back of large growth drivers. Buy for target price of ₹1669 (24% upside): SBI Securities
APL Apollo Tubes (APAT) during the quarter reported 9.4%/-0.2% YoY increase in Net sales/PAT at Rs 4,974 cr and Rs 193 cr respectively. The company achieved its highest ever quarterly sales volume of 7,21,000 tonnes in 1QFY25 with EBITDA and PAT increasing 8%/13% QoQ. The demand environment for the structural steel tubes industry was tough, impacted by general elections and ongoing slowdown in retail spending
Senco Gold has huge headroom to grow given its strong legacy in the jewellery business. Buy for target price of ₹1319 (20% upside): SBI Securities
We believe Senco has huge headroom to grow given its strong legacy in the jewellery business, expanding footprint through a strong and diverse distribution channel, focus on light affordable jewellery with better price point and healthy growth visibility from both its company operated and franchise stores. We maintain BUY on the stock and upgrade our target price to Rs 1,319 which implies an upside potential of 20.0% for 12-18 months
TCI Express Ltd remains on track to achieve profitable growth. Buy for target price of ₹1350 (28% upside): Sharekhan
TCI has been affected by a sluggish macro environment, although it has performed well vis-à-vis industry peers. The company remains on track to achieve profitable growth, although some volume gets sacrificed in the near term. We introduce our FY2027E earnings in this note
Sky is not the limit for Sky Gold. It is scoring gold on all parameters. Buy for target price of ₹3600 (53% upside): Nuvama
Factoring in its recent blockbuster performance, we have upgraded our estimates slightly. We expect revenue/EBITDA/PAT to grow 53%/56%/70% over FY24–27. Its recent fund raising will result in a slight dilution in EPS which we expect to grow at 63% CAGR. SKYGOLD can be a longterm compounding story. Given its record of overachieving its targets in the past; aggressive growth for FY24-27 and execution capabilities of management, we think that SKYGOLD can be a long-term growth story
Hindalco has shown robust performance, profitable growth lies ahead. Buy for target price of ₹825 (32% upside): ICICI Direct
Hindalco, part of Aditya Birla group, is India’s largest fully integrated aluminium and copper manufacturer. US based wholly owned subsidiary i.e. Novelis is the world’s largest aluminium flat-rolled products (FRP) producer and recycler.
KPI Green Energy has very strong order book; Ambitious vision to execute 10 GW of power by 2030. Buy for target price of ₹1246 (24.6% upside): SBI Securities
At the current price, the stock is trading at 47.2x/29.5x of its FY25E/FY26E earnings respectively. We maintain our buy rating on the stock with an upgraded price target of Rs 1,246/- thus providing an upside potential of 24.6%.
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