Fan Site: Inspired, Not Endorsed, By Rakesh Jhunjhunwala

Posts tagged Yes Securities

SAMHI Hotels is The Turnaround Story with Re-rating Potential, Initiate Coverage with BUY for target price of ₹305 (45.2% upside): Yes Securities!



SAMHI Hotels share price target

We initiate coverage on SAMHI Hotels with a BUY rating and expect it to be the key beneficiary of industry upcycle. We believe SAMHI has promising growth prospects based on following factors: 1) Presence in key metro markets with incremental capacity addition 2) Proven track record of asset turnaround 3) GIC Investment opens up more avenues for growth in upscale and above segment 4) Large investible surplus to be generated via robust FCF, which will accelerate growth 5) Strong re-rating potential due to significant valuation discount to peers. We pencil in Revenue/ EBITDA/PAT CAGR of +14%/+19%/+57% over FY25-28E and value the company at Jun’27 EV/EBITDA multiple of 15x, arriving at TP of Rs 305. Initiate with BUY!

ETHOS is on a strong growth trajectory. Buy for target price of ₹3722 (48% upside): Yes Securities



Ethos share price target

ETHOS is expected to continue delivering strong topline growth in the coming years, driven by rising demand for luxury items in India. As one of the largest retailers of luxury watches in the country, ETHOS is well-positioned to benefit from this trend. Incrementally, company has invested in setting up robust store network across key cities which will contribute to higher growth in coming years. Post the recent Rights Issue- company is well capitalized to fuel the upcoming growth & expansion.

Stove Kraft Ltd has export opportunities and sustainable double digit margins potential. Buy for target price of ₹824 (44.1% upside): Yes Securities



Stove Kraft share price target

Considering export opportunities and now with sustainable double digit margins potential we remain positive on the stock. We estimate STOVEKRA to deliver revenue CAGR of over FY25-27E of 14% which looks achievable given the export potential and pickup in domestic demand.

Sobha Ltd is on track to achieve robust presales in FY26! Buy for target price of ₹2113 (35% upside): Yes Securities



Sobha share price target

Sobha reported highest ever quarterly presales of Rs20.79Bn, a growth of 11%YoY & 13%QoQ. The performance was driven by two launches viz., Sobha Aurum, Noida and 4 towers of Marina One, Kochi. ~80% of Aurum has been sold in the first quarter itself generating sales of Rs8.34Bn.

Repco Home Finance’s valuation can re-rate with improving disbursement trajectory. Buy for target price of ₹560 (30.3% upside): Yes Securities



Repco Home Finance share price target

We interacted with Repco Home Finance’s Management to understand the drivers of loan growth acceleration, factors which will influence portfolio spread/NIM, and actions taken to consistently reduce the overdue portfolio and NPLs. The management was quite confident about achieving the guided disbursements of Rs40bn in the current year and reaching 12% loan book growth, managing spread decline within 15-20 bps, and improving GNPL ratio to 2.5% by the year-end. Repco trades at an undemanding valuation of 6x P/E and 0.7x P/BV on FY27 estimates, and acceleration of loan growth and further improvement in asset quality should re-rate the stock. We have a BUY rating with a 12m PT of Rs560

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Disclaimer: This is a Fan Site in Rakesh Jhunjhunwala's name. Rakesh Jhunjhunwala is not associated with us and is in no way aware, accountable or responsible for what is stated here. Further, nothing here constiutes investment advice for you to act on. Also, we have a vested interest, and are extremely biased, in everything that we say. So Mind It!