We are upbeat on DLFU’s growth prospects driven by strong sectoral tailwinds (record low inventory in its home market, industry-wide consolidation, and a greater preference for branded luxury inventory), an extensive launch pipeline, and expansion of its annuity portfolio. A strong Balance Sheet, with consistent cash flow, lends comfort. We upgrade our TP to INR1,081 (from INR1,021) to account for project additions and an expanded launch pipeline. Maintain ‘BUY’
Beta is one of the fastest growing scaled up companies in the Indian branded Oncology pharma market. It has shown a strong growth over the years with a bright future ahead. H2FY24 faced some pressure on the EBITDA margins due to higher raw material prices and a loss in the cosmeceutical division but the management expects a recovery in the margins in FY25
Amara Raja Energy & Mobility (AREM) is a part of the duopolistic organised Indian lead acid battery market with a strong presence across Automotive (OEM & aftermarket) and Industrial battery space (UPS, Telecom, etc.)
We maintain a BUY rating on the stock as we continue to remain positive on the company’s long-term prospects
TCI express is leading ground express player with the company claiming to have a market share of ~7%. In CY16, Transport Corporation of India (TCI) completed the de-merger of its express division and over FY17 to FY23, despite Covid TCIEXP reported revenue CAGR of 6.2% and earnings CAGR of 21.2% with high return ratios.
TCIE is best placed among peers in the times of lacklustre demand owing to its strong balance sheet, focus on other revenue streams and possibility of further cost efficiencies from Pune automatic sorting centre
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products which the customers can customize to meet his or her needs
Nitin Spinners Ltd (NSPL) came out with a decent performance in an improving business
environment (from margin perspective) during Q4FY24. Recent capacity addition led to ~22%/~64%/~30% growth in sales/EBITDA/PBT on YoY basis
Valuation still attractive; Maintain buy rating- Target Rs 1,137/- At the current price, Zen Technologies is trading at 36.8x/26.1x of its FY25E/FY26E earnings respectively. We maintained our buy rating on the stock with upgraded price target of Rs 1,137.0/- thus providing an upside potential of 20.4 %
SBI has demonstrated its strength in the last few quarters both on core operating performance and asset quality. Management remains confident on growth, maintenance of margins and improvement in RoA. Sustained balance sheet growth (13-15%), strong liabilities franchise and prudent asset quality is expected to aid RoA at ~1% in FY25-26E. Gains on treasury and recovery from existing stressed book to act as catalyst. Valuing the bank at ~1.6x FY26E BV and subsidiaries at ~₹184/share, we revise our target price at ₹1000 (from ₹800). Maintain Buy
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