Stock brokerages such as Motilal Oswal, JM Financial, ICICI Securities and Nirmal Bang have come out with research reports on select stocks namely Tata Motors, Aether Industries, Delhivery, SRF. Here's what brokerages said about these counters
Motilal Oswal has a ‘buy’ call on Tata Motors stock with a target price of Rs 650 per share. According to the brokerage, Tata Motors should witness a healthy recovery as supply-side issues ease (for JLR) and commodity headwinds stabilise (for the India business)
As per analysts at Motilal Oswal, Tata Motors will benefit from the CV upcycle and stable growth in PVs, company-specific volume/margin drivers, and a sharp improvement in FCF, as well as a reduction in net debt in both JLR and the India business
JM Financial has initiated coverage on Aether Industries stock with a ‘buy’ call with a target price of Rs 1,080 per share. The brokerage believes that Aether’s focus on being present in the entire value chain gives it a process advantage and helps it achieve higher margins
Analysts at JM Financial believe that Aether’s robust R&D backbone enables it to keep innovating and consistently come up with new products. This gives it a strong competitive advantage and helps it offer substitutes for products currently being imported in large quantities from China. Further, recent tie-ups with global majors have strengthened the company’s runway for long-term growth
ICICI Securities has a ‘buy’ rating on Delhivery stock to ‘Buy’ with a target price of Rs 425. According to the brokerage, the lowest cost structure compared to peers across first-mile, mid-mile, and last-mile logistics in express parcel business is a competitive advantage for the company in a cost-sensitive market
ICICI Securities believes that technology and trust moat should strengthen Delhivery’s dominant share in niche segments such as secured delivery. Strong balance sheet should help sustain investments through periods of tight liquidity, and uncharacteristically high brand recall among end-users could make it a key beneficiary of open-ended B2B e-commerce marketplaces, it said
Nirmal Bang has a ‘Buy’ call on SRF stock with a target price of Rs 3,000 per share. Their preference for SRF in the entire Chemicals space is predominantly on the back of its execution excellence, higher engagement with the innovators, and an efficient capital allocation strategy and market opportunity in complex Fluorination
While the operational performance is expected to be weak in FY24, SRF is better-placed compared to peers, as per analysts at Nirmal Bang. The brokerage expects accelerated capex in the Fluoropolymers space (mainly in the value-added segment) post-PTFE ramp-up
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