Reports in category Result Update
| Action Construction Equipment (ACE) is well positioned to benefit from strong industry tailwinds. Buy for target price of Rs 910 (23% upside) | |
| Company: | Action Construction Equipment (ACE) |
| Brokerage: | ICICI-Direct |
| Date of report: | October 23, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 23% |
| Summary: | ACE is well positioned to ride the strong demand cycle in its product segments in both domestic & exports market, new product developments. We believe company’s operational and financial performance to improve significantly in the coming period |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Action Construction Equipment (ACE), ICICI-Direct |
| Elecon Engineering’s strong margin trend continues. It is a ‘tactical BUY’ for target price of Rs 874: Nuvama | |
| Company: | Elecon Engineering |
| Brokerage: | Nuvama |
| Date of report: | October 23, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 12% |
| Summary: | We reaffirm our ‘tactical BUY’ rating, but raise the TP to INR874 (from INR777), valuing the stock at 25x FY25E P/E (from 24x FY25E P/E). We have tweaked our FY24 and FY25 estimates to account for a better margin performance. The stock is trading at 26x/22x FY24E/FY25E P/E |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Elecon Engineering, Nuvama |
| VSSL’s aim is to make it big in the special steel domain with backing of Aichi Steel Corp. Buy for target price of ₹260 (30% upside): ICICI-Direct | |
| Company: | Vardhman Special Steel |
| Brokerage: | ICICI-Direct |
| Date of report: | October 19, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 30% |
| Summary: | We assign BUY rating to the stock gaining confidence from VSSL’s aim to make it big in the special steel domain amidst backing of Aichi Steel Corporation. We value VSSL at ₹260 i.e., 18x PE on FY25E-26E average EPS of ₹14.3/share |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI-Direct, Vardhman Special Steel |
| Coal India has plenty of steam left. Buy for target price of Rs 395 (25% upside): ICICI Securities | |
| Company: | Coal India |
| Brokerage: | ICICI Securities |
| Date of report: | October 20, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 25% |
| Summary: | Despite the impressive run-up (~37% in the past 3months), we believe that there is still room for a 25% upside for CIL’s stock price performance |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Coal India, ICICI Securities |
| State Bank of India: New moats emerge as game changers. Buy for target price of Rs 790 (37% upside) | |
| Company: | SBI |
| Brokerage: | HDFC Sec |
| Date of report: | October 14, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 37% |
| Summary: | While SBI always had the natural advantage of brand recognition and scale, the bank has gradually added other competitive moats in the form of a prolific sourcing edge, a YONO-powered digital stack, an unparalleled lean distribution model, and a potent combination of cross-sell focus and competencies |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Sec, SBI |
| Navin Fluorine: Steep Correction due to resignation of MD is opportunity to buy for target price of Rs 5368 (40% upside) | |
| Company: | Navin Fluorine |
| Brokerage: | HDFC Sec |
| Date of report: | October 5, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 40% |
| Summary: | We expect NFIL’s PAT to grow at a 30% CAGR over FY23-26E, led by a 33% CAGR in EBITDA. We retain our BUY rating on Navin Fluorine, with a target price of INR 5,368 (WACC 11%, terminal growth 5.5%) on the back of (1) earning visibility given long-term contracts in speciality chemicals and HPP segments; (2) a tilt in sales mix towards high margin high-value business; and (3) capacity expansion-led growth |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Sec, Navin Fluorine |
| APL Apollo Tubes: Raipur Plant will boost margins through innovative product offerings. Buy for target price of Rs 1930: Motilal Oswal | |
| Company: | APL Apollo Tubes |
| Brokerage: | Motilal Oswal |
| Date of report: | October 3, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 18% |
| Summary: | The Raipur plant will manufacture only value-added products (VAP), which will drive up the overall margin profile for the company. Additionally, these plants will |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | APL Apollo Tubes, Motilal Oswal |
| Mayur Uniquoters is a conviction idea in small cap auto ancillary space for 30% upside potential: ICICI Direct | |
| Company: | Mayur Uniquoters |
| Brokerage: | ICICI-Direct |
| Date of report: | October 5, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 30% |
| Summary: | We assign BUY rating on Mayur Uniquoters amidst healthy growth prospects especially in auto OEM export space, healthy margin profile (~20%), capital efficient business model (RoIC: 20%+) & Cash positive B/S (Net cash at ~₹180 crore as of FY23) |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI-Direct, Mayur Uniquoters |
| Buy MCX for target price of Rs 2400 (26% upside). Tech transition is underway; options surge: HDFC Sec | |
| Company: | MCX |
| Brokerage: | HDFC Sec |
| Date of report: | September 27, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 26% |
| Summary: | The Multi Commodity Exchange of India Ltd (MCX) has witnessed impressive growth in options volume but uncertainty around the technology shift has been the key overhang. The commodity exchange, in a press release, has indicated that the technology shift is underway and might happen three months ahead of the deadline. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Sec, MCX |
| 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: | |
| 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 |