NCC is a key beneficiary of the tailwinds in the buildings, roads, water, mining and electrical segments. Buy for target price of ₹400 (25% upside): ICICI DIrect

NCC is one of the leading construction companies with presence across varied verticals such as buildings, roads, water, mining and electrical. Standalone order book is at ₹ 47,625 crore, 2.5x TTM book to bill.

BLSIN’s Q1FY25 performance exceeded expectations, with multiple triggers poised to drive future growth. Buy for target price of ₹518 (34% upside): Nuvama

BLSIN’s Q1FY25 performance exceeded our expectations, with multiple triggers poised to drive future growth. It is the only listed Indian company in global visa processing and G2C services outsourcing. It operates on an asset and capital-light model, thus ensuring strong cash generation, with minimal growth-related costs. New visa contracts and expansion in digital services across India are expected to boost BC revenue and profitability. The company has a history of acquisitions that have enhanced its offerings and market entry. The management plans to raise INR2,000cr via equity, despite sitting on a strong cash balance, for further acquisitions and to accelerate growth in the medium to long term. Despite a higher-than-expected earnings performance in Q1, we keep our FY25/FY26 estimates unchanged. We expect a robust revenue/EPS CAGR of 30%/35% over FY24–26E. We retain ‘BUY’ with a SoTP-based TP of INR518

Coal India Ltd is well poised for profitable growth. Buy for target price of ₹650 (27% upside): ICICI Direct

We maintain a positive view on Coal India amidst healthy volume growth on the anvil, its diversification efforts in new sunrise spaces, healthy net cash positive b/s and robust dividend yield (~5%). We assign BUY rating to Coal India with target price of ₹650 i.e. 5.5x EV/EBITDA on FY26E

Amara Raja is doubling down on EVs, with lithium cell plants for NMC/ LFP chemistries slated to come on stream in FY26E/28E. Buy for target price of ₹1980 (31% upside): Nuvama

Amara Raja is doubling down on EVs, with lithium cell plants for NMC/ LFP chemistries slated to come on stream in FY26E/28E and investments in Inobat/Log9 entities. These efforts enhance long-term growth visibility. Retain ‘BUY’ with a TP of INR1,980 (INR2,040 earlier), based on 15x Sep-26E EPS for the core business, 3x PB for lithium battery investments and INR23/share for Inobat/Log9 investments

Dhanuka Agritech has seen strong rebound in performance & upgraded the guidance for FY25. Buy for target price of ₹2223 (21% upside): SBI Securities

At the current price, the stock is trading at P/E multiple of 28.0x/24.1x of its FY25E/FY26E earnings respectively. The company has announced Rs 100 cr buyback at the maximum price of Rs 2,000 per share. The promoters will also be participating in buyback process. We maintained our buy rating on the stock with upgraded price target of Rs 2,223/- thus providing an upside potential of 21%.

Suraj Estate Developers has a robust project lineup and a healthy launch pipeline. Buy for target price of ₹935 (30% upside): Nuvama

Revenue for Suraj Estate Developers (SURAJEST) grew 31% YoY to INR134cr in Q1FY25 on a ramp up in execution, which led to a higher area hitting its sales recognition milestone. EBITDA grew 35% YoY to INR63cr, with a 171bp expansion in margin to 47.3% on the back of a better product mix and operating leverage benefits. PAT grew 107% YoY to INR30cr aided by lower (19%) interest cost. In Q1FY25, it re-financed the last tranche of its high-cost NCDs (INR32cr). The management expects rates to stay in the 13–13.5% range and has guided at an interest cost of INR65–70cr for FY25 (FY24: INR139cr). Pre-sales grew 5% YoY to INR140cr, led by a 13% growth in average realisation. Collections were muted at INR72cr

Zomato has built a resilient business model by securing multiple strategic verticals and delivering broad-based growth. Buy for target price of ₹280 (20% upside): Axis Securities

Zomato’s management sees strong broad-based growth across verticals, supported by robust GOV growth. We are constructive on the long-term outlook of the company and expect robust growth. We maintain our BUY rating on the stock and value it at Rs 280 on an SOTP valuation, implying an upside of 23% from the CMP

NIFTY Elliott wave perspective by HDFC Securities

NIFTY Elliott wave perspective. Big picture is strong 4Since index still hovers around our earlier target of 24800, we may see some retracement. If that happens, then it is a buy on dips opportunity. Overall in big picture, index is continuing the uptrend. As long as “Base – 24074” holds, we may see 25800 levels in coming months

Dividend Yield Monitor 1st Aug 2024 by SBI Securities

The dividend yield is computed based on the closing price of 31st July 2024. We have considered companies that have consistently paid dividend in the last 3 years – i.e FY23/CY22, FY22/CY21 and FY21/CY20.

Hi-Tech Pipes has mammoth growth prospects in the structural steel tubes space. Buy for target price of ₹190 (27% upside): SBI Securities

Hi-Tech Pipes has mammoth growth prospects in the structural steel tubes space given its (a) Capacity expansion from 0.58 MTPA in FY23, 0.75 MTPA in FY24 to 1 MTPA in FY25E, (b) Transition from generic products to value-added products, (c) Product portfolio enhancement on back of Solar torque tubes, color coated roofing sheets and (d) Healthy demand for structural steel tube over medium and long term (Budgeted Allocation for Jal Jeevan Mission of Rs 70,163 cr in Budget 24-25)