Monthly archives for September, 2023
| Review of 12 Speciality Chemicals stocks with Buy, Hold & Reduce Recommendations by ICICI Securities | |
| Company: | Speciality Chemicals stocks |
| Brokerage: | ICICI Securities |
| Date of report: | September 22, 2023 |
| Type of Report: | Sector Report |
| Recommendation: | Buy |
| Upside Potential: | 100% |
| Summary: | Speciality Chemicals, Chemical prices for Jul’23 |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, Speciality Chemicals |
| Senco Gold ‘Gold’en opportunity – At a bargain; initiate with BUY: Emkay | |
| Company: | Senco Gold |
| Brokerage: | Emkay |
| Date of report: | September 20, 2023 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 33.1% |
| Summary: | Senco Gold boasts of being one of the top-2 as regards revenue share in the ~Rs800bn eastern market, abetted by strongest brand accessibility vs peers, in terms of product, price & penetration |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Emkay, Senco Gold |
| Buy PNC Infratech for target price of Rs 460. Asset monetisation – a key trigger ahead: ICICI Direct | |
| Company: | PNC Infratech |
| Brokerage: | ICICI-Direct |
| Date of report: | September 22, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 25% |
| Summary: | PNC Infratech has established itself as a strong executor in roads and water infra segments. Additionally, superior execution capabilities via ownership of modern |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI-Direct, PNC Infratech |
| JB Chem is the preferred pick due to aggressive growth focus & high return ratios: Nirmal Bang | |
| Company: | J.B. Chemicals & Pharmaceuticals Ltd |
| Brokerage: | Nirmal Bang |
| Date of report: | September 15, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 16% |
| Summary: | JB Pharma remains our preferred pick, mainly underpinned by aggressive growth focus in the Domestic+CDMO business, high return ratios, lean B/S and healthy FCF |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | J.B. Chemicals & Pharmaceuticals Ltd, Nirmal Bang |
| KEC International is on the cusp of a major turnaround driven by stellar growth. Buy for target price of Rs 816: Yes Securities | |
| Company: | KEC International |
| Brokerage: | Yes Securities |
| Date of report: | August 31, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 21% |
| Summary: | The company is on the cusp of a major turnaround driven by stellar growth in its TAM, sequential margin recovery, and reduction of working capital to normalized levels |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | KEC International, Yes Securities |
| Kilpest is available at a discount of ~51% to the average P/E ratio of two prominent diagnostic players. Buy for 43% upside: Nuvama | |
| Company: | kilpest |
| Brokerage: | Nuvama |
| Date of report: | September 11, 2023 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 43% |
| Summary: | Kilpest India (KLPI) has seen multiple transformations in the last ~50 years of existence. Based in Bhopal, it started with agrochemicals in 1972 and forayed into the niche molecular diagnostics business in FY10 through its subsidiary 3B Black Bio Biotech India |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | kilpest, Nuvama |
| Astra Microwave Products is well poised for strong growth ahead. Buy for target price of Rs 510 (27% upside): ICICI Direct | |
| Company: | Astra Microwave Products ( |
| Brokerage: | ICICI-Direct |
| Date of report: | September 12, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 27% |
| Summary: | Astra Microwave Products (AMPL), incorporated in 1991, is engaged in design, development and manufacture of sub-systems for Radio Frequency and microwave systems, primarily used in defence, space & meteorology |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Astra Microwave Products (, ICICI-Direct |
| Five Star Business Finance has huge untapped opportunity of INR 22trn. Buy for target price of Rs 860 (19% upside): ICICI Sec | |
| Company: | Five Star Business Finance |
| Brokerage: | ICICI Securities |
| Date of report: | September 6, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 19% |
| Summary: | Five Star Business Finance’s FY23 annual report provides an insight on how it is progressing towards its vision of “reaching the unreached through suitable credit solution” and capturing the INR 22trn MSME lending opportunity. AUM growth reviving to 37% in FY23 vs 14% CAGR between FY20-22 (covid impact) is a testimony to its agility and business resiliency. In a high human touch model, adherence to standard-operating-process (SOPs) becomes a prerequisite, and negligible frauds / mishandling of cash in FY23 (and even in previous years) reflects its tight control on processes and staff quality. Notably, gross stage 3 increased marginally to 1.36% in FY23 vs 1.06% in FY22 despite the implementation of daily DPD recognition from Oct’22. Maintain BUY with an unchanged target price of INR 860, valuing the stock at 4.5x on Sep’24 BVPS |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Five Star Business Finance, ICICI Securities |
| Beta Drugs has delivered a healthy performance. Buy for target price of Rs 1325 (27% upside): Nuvama | |
| Company: | Beta Drugs |
| Brokerage: | Nuvama |
| Date of report: | September 3, 2023 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 27% |
| Summary: | Beta Drugs (BETADR) is one of the leading players in the domestic oncology space and ranks among the top 10 in the cytotoxic market. Equipped with three state-of-the-art manufacturing facilities, it produces and markets a wide range of oncology (anti-cancer) drugs, which are available across major government and private hospitals. It expanded, upgraded, and received regulatory approvalsfrom INVIMA (Colombia)/INVISA (Brazil) for its key facilities which will aid exports |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Beta Drugs, Nuvama |
| Lemon Tree Hotels is best placed to ride the industry upcycle. Buy for TP of Rs 140 (40% upside): PL | |
| Company: | Lemon Tree Hotels |
| Brokerage: | Prabhudas Lilladher |
| Date of report: | September 7, 2023 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 40% |
| Summary: | LTHL is coming up with a new hotel in Mumbai near the airport under brand Aurika that is expected to be operational in Oct-23. We believe Aurika, Mumbai is likely to be a key growth driver and crown jewel for LTHL |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Lemon Tree Hotels, Prabhudas Lilladher |