Reports in category Initiating Coverage
| Pitti Engineering: Strategic operation will support improving ROE and ROCE to 25.8% and 26.7%. Buy for target price of Rs 915 (40% upside) | |
| Company: | Pitti Engineering |
| Brokerage: | Axis Securities |
| Date of report: | December 1, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 40% |
| Summary: | We initiate coverage on Pitti Engineering Ltd. (PEL) with a BUY recommendation. Our recommendation is supported by a) The company’s increasing capacity b) Its increasing share of value-added products, and c) Its expanding global footprints |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Axis Securities, Pitti Engineering |
| PSP Projects has a sturdy foundation & promising future prospects. Buy for target price of Rs 905: SMIFS | |
| Company: | PSP Projects Ltd |
| Brokerage: | SMIFS |
| Date of report: | November 24, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 20% |
| Summary: | Additionally, well-managed balance sheet, strict working capital controls, and healthy return ratios are added positives. Given the favourable outlook, we initiate coverage with a Target Price of Rs905/share (15x Sept’25 estimated EPS), representing an upside potential of ~20% |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | PSP Projects Ltd, SMIFS |
| We are strongly convinced on Gabriel India’s competitive position, key clients, market share. Buy for target price of Rs 409 (27% upside) | |
| Company: | Gabriel India Ltd |
| Brokerage: | SMIFS |
| Date of report: | October 23, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 27% |
| Summary: | We trust Gabriel has a very promising future on account of 1) benefits due to sustained demand recovery in the coming years across automobile segments, 2) well-diversified product portfolio, 3) key customers gaining share, 4) winning new orders from electric vehicle OEMs, 5) steady revenue growth visibility into the aftermarket sales, 6) entering into high growth, better margin products viz. automotive sunroof, and we anticipate further introduction of new technology agnostic products to drive growth higher than the industry |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | gabriel india, SMIFS |
| Gati is turning over a new leaf. Buy for target price of Rs 234 (58% upside): Nuvama | |
| Company: | gati |
| Brokerage: | Nuvama |
| Date of report: | October 13, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 58% |
| Summary: | Gati (GTIC) has emerged as one of India’s leading multi-modal express logistics players. It operates in two segments — express logistics and fuel stations, which contribute 85% and 15% to total revenue, respectively. We initiate coverage with a ‘BUY’ rating and a DCF-based fair value of INR234, implying an upside of 58% from its CMP |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | gati, Nuvama |
| Stylam Industries is the fastest-growing laminate company in India. Buy for target price of Rs 2300 (32% upside) | |
| Company: | Stylam Industries |
| Brokerage: | HDFC Sec |
| Date of report: | October 9, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 32% |
| Summary: | We initiate coverage on Stylam Industries with a BUY rating and a target price of INR 2,300 (22x its Sep-25 EPS). We like the company for its industry-leading growth and EBITDA margins, healthy balance sheet, and return ratio profile. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Sec, stylam industries |
| 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: | |
| 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 |
| 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: | |
| 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 |
| 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: | |
| 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: | |
| 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 |
| BAJAJ FINANCE has delivered a robust 25% AUM CAGR to Rs 2.5tn over FY18-FY23. Buy for target price of Rs 9105 (29% upside): BOB CAPS | |
| Company: | Bajaj Finance |
| Brokerage: | BOB Capital |
| Date of report: | September 1, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 29% |
| Summary: | Seasoned management, solid execution to help fend off rivals; valuations have moderated as well – initiate with BUY, TP Rs 9,105 |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Bajaj Finance, BOB Capital Markets |