October 1, 2025
amar_ambani

Amar Ambani

Amar Ambani of IIFL has recommended three more stocks which he claim have good upside left in them
Amar Ambani of IIFL has recommended three more stocks which he claim have good upside left in them




Bharat Forge (Q2 FY15) – BUY

CMP Rs885, Target Rs1,250, Upside 41.2%

– Revenues at Rs11.4bn higher by 34.7% yoy; better than our estimates

– Tonnage volumes surged 22.8% yoy and 7% qoq

– Realizations were higher by 9.7% and 7.7% qoq

– OPM at 28.5% was higher by 217bps yoy, on the back of benefits of operating leverage and better product mix, favorable product mix

– PAT at Rs1.8bn jumped 81% yoy and 20% qoq was substantially better than our estimates

– Outlook for domestic auto business is improving but will take time to stabilize, while non-auto business should see large opportunities from the Make in India campaign, Outlook for US market is robust

Maintain our BUY rating with a 2-year price target of Rs1,250

Click here for the detailed report on the same.

Dhanuka Agritech Ltd (Q2 FY15) – BUY

CMP Rs511, Target Rs800, Upside 56.5%

– Q2 FY15 PAT grew 30.2% yoy well above our estimates on the back of improvement in gross margins and strong operating performance.

– Revenue stood at Rs.2,833mn, in line with our expectation of Rs2,825mn.

– Gross margins expanded by 197bps yoy to 37.5% driven by better product mix and stable RM cost of specialty products.

– Operating margins at 19.5% came as a positive surprise; beat our expectations of 16.7%.

– Outlook remains strong; Maintain Buy with a 24-month price target of Rs800.

Click here for the detailed report on the same.

Motherson Sumi (Q2 FY15) – BUY

CMP Rs410, Target Rs500, Upside 21.9%

– Revenues at Rs80bn came in lower than our estimates, wherein the growth in SMP revenues were substantially below our estimates

– Standalone OPM was tad better than expectations at 18%, SMP margins came in at 6% v/s our expectations of 5.8%, SMR margins were at 9.1% below our estimates of 9.5%

– While margins for the SMR and SMP were higher on a yoy basis, standalone margins were lower by 270bps yoy causing consolidated OPM to fall by 49bps yoy

– We maintain BUY with a price target of Rs500

Click here for the detailed report on the same.

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