Reports in category Result Update
| Sagar Cement Poised for a healthy uptick in operational performance. Buy for target price of Rs 305 (29% upside): ICICI Direct | |
| Company: | Sagar Cements |
| Brokerage: | ICICI-Direct |
| Date of report: | August 7, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 29% |
| Summary: | Sagar Cement is trading at attractive valuations (US$ 50/t vs. replacement cost of US$ 110/t). We believe Sagar Cement is an attractive regional play in the southern cement markets and has demonstrated the ability to be one of the lowest cost producers. Hence, we ascribe BUY rating on the stock. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI-Direct, Sagar Cements |
| PSP Projects is on a strong growth trajectory! Buy for target price of Rs 975 (25% upside): ICICI Direct | |
| Company: | PSP Projects Ltd |
| Brokerage: | ICICI-Direct |
| Date of report: | July 31, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 25% |
| Summary: | PSP is well placed for healthy growth at decent margins to be driven by strong executable order book position. Healthy order inflows secured at FY23 and Q1FY24 coupled with robust bidding pipeline brightens company’s prospects. At the CMP, the company is trading at a valuation of ~12x FY25E P/E |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI-Direct, PSP Projects Ltd |
| SBI has healthy growth prospects and consistent asset quality. Buy for target price of Rs 729 (28% upside): Bob Caps | |
| Company: | SBI |
| Brokerage: | BOB Capital |
| Date of report: | August 7, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 28% |
| Summary: | Given healthy growth prospects and consistent asset quality, we maintain BUY for an unchanged TP of Rs 729, based on 1.3x FY25E ABV (Gordon Growth Model) and adding in Rs 166/sh for subsidiaries |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | BOB Capital Markets, SBI |
| Ajanta Pharma is a focused player in branded generics. Buy for target price Rs 1950 (26% upside) | |
| Company: | Ajanta Pharma |
| Brokerage: | ICICI-Direct |
| Date of report: | August 28, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 26% |
| Summary: | Ajanta Pharma is a focused player in branded generics, which constitutes ~72% of overall sales, spread across geographies including India. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Ajanta Pharma, ICICI-Direct |
| HDFC Bank is a conviction buy for target price of Rs 2050 (26% upside): ICICI Direct | |
| Company: | HDFC Bank |
| Brokerage: | ICICI-Direct |
| Date of report: | August 4, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 26% |
| Summary: | Valuing the merged entity on SOTP basis assigning 2.5x FY25E ABV for lending business (merged basis) and ₹ 144 for subsidiaries arriving at a target of ₹ 2050 per share. Maintain BUY rating on the stock |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | HDFC Bank, ICICI-Direct |
| CDSL is the market leader in BO accounts with 73% market share. Buy for target price of Rs 1470: HDFC Securities | |
| Company: | CDSL |
| Brokerage: | HDFC Sec |
| Date of report: | July 13, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 21% |
| Summary: | We upgrade our rating to BUY from ADD and assign a TP of INR 1,470, based on 37x June-25E EPS. The stock has traded at an average 3Y/5Y 1-year forward P/E multiple of 42/32x. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | CDSL, HDFC Sec |
| Kirloskar Brothers Ltd is well poised for further growth: Sharekhan | |
| Company: | Kirloskar Brothers |
| Brokerage: | Sharekhan |
| Date of report: | July 11, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 23% |
| Summary: | Despite a sharp run-up, KBL trades at an attractive valuation of ~18x FY2024E/~15x its FY2025E EPS. We expect Q1FY24E to be a strong quarter on all parameters and see potential upside of 23% from CMP. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Kirloskar Brothers, Sharekhan |
| Sell Mazagon Dock Shipbuilders for Target price Rs 600: ICICI Securities | |
| Company: | mazagon dock |
| Brokerage: | ICICI Securities |
| Date of report: | June 3, 2023 |
| Type of Report: | |
| Recommendation: | Sell |
| Upside Potential: | -42% |
| Summary: | MDSL’s lack of order visibility offsets its near-term robust revenue estimate. As a result, we perceive unfavourable risk-reward at CMP. We maintain SELL on MDSL stock with an unchanged TP of Rs600 (based on DCF methodology) |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | ICICI Securities, mazagon dock |
| AIA Engineering’s Healthy realization and volume growth to sustain. Buy for target price of Rs 3420: Centrum | |
| Company: | AIA Engineering |
| Brokerage: | Centrum |
| Date of report: | May 26, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 18% |
| Summary: | AIAE’s technological leadership in high chrome mill internals, strong growth opportunity in mining sector and superior financial metrics are key business moats |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | AIA Engineering, Centrum |
| Astral Ltd is superior in every respect; outlook strong. Buy for target price of Rs INR 1,983: Nuvama | |
| Company: | Astral Ltd |
| Brokerage: | Nuvama |
| Date of report: | May 18, 2023 |
| Type of Report: | |
| Recommendation: | Buy |
| Upside Potential: | 18% |
| Summary: | We remain positive on ASTRA given its: i) market share gains in the core plastic piping business; ii) strong brand recall; iii) product launches (it recently forayed into faucets and sanitaryware, tanks, infrastructure pipes, DWV piping system, valves, and paints to increase its addressable market); iv) strong cash flow and net debt-free Balance Sheet, with an improvement in working capital; and v) robust growth in the adhesives business |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | astral, Nuvama |