| 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 |
| Atarco acquisition is a win-win deal for Gokaldas Exports. Buy for target price of Rs 884: Nuvama | |
| Company: | Gokaldas Exports |
| Brokerage: | Nuvama |
| Date of report: | August 29, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 20% |
| Summary: | Atarco acquisition a win-win deal Gokaldas Exports (GEXP) has announced the complete acquisition of the Atraco Group (Atraco) for USD55mn. Through this deal, it will gain duty free access to the US and European markets (duties on Indian imports range from 11% to 28%). Atraco has five production units: four/ one in Kenya/Ethiopia, with a […] |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Gokaldas Exports, Nuvama |
| Nifty Rollover analysis: One should remain cautious. All time high open interest in the stock futures segment indicates higher leveraged positions: HDFC Sec | |
| Company: | Nifty |
| Brokerage: | HDFC Sec |
| Date of report: | September 1, 2023 |
| Type of Report: | Techno-Funda |
| Recommendation: | Hold |
| Upside Potential: | 100% |
| Summary: | Be cautious. Stock Futures are at ATH indicating higher leveraged positions. Nifty is in a short term downtrend and making lower tops and lower bottoms. It is below 20 day and 50 day SMA. 14 week RSI oscillator too is in decline mode, suggesting scope for more downsides in the near term |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Bank Nifty, NIFTY |
| 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: | Initiating Coverage |
| 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 |
| BSE is getting a boost from Derivatives. Buy for target price of Rs 1230 (35% upside): ICICI Direct | |
| Company: | BSE Ltd |
| Brokerage: | ICICI-Direct |
| Date of report: | August 30, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 35% |
| Summary: | The bull case assumes a 10% derivatives market share (similar to the base case) but higher options pricing, resulting in a 23% revenue CAGR and 30x multiple, indicating a ~70% upside. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | BSE, ICICI-Direct |
| CanFin Homes is the best in class HFC player with a robust business model & underwriting practices: ICICI Direct | |
| Company: | Can Fin Homes |
| Brokerage: | ICICI-Direct |
| Date of report: | August 15, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 25% |
| Summary: | CFHL has been best in class HFC player with a robust business model & underwriting practices, which resulted in healthy earnings growth with GNPA <1% across cycles. Strategy adopted by new management to strengthen processes & IT infrastructure to further aid business growth and RoA. |
| Full Report: | Click here to view full post with link to download pdf file |
| Tags: | Can Fin Homes, ICICI-Direct |