Stocks that share market analysts recommended on August 14, 2023: Samvardhana Motherson, Manappuram Finance, IRCTC, V-Mart Retail
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Stock brokerages including Nuvama Institutional Equities, Motilal Oswal, IDBI Capital, and Axis Securities have come out with research reports on select stocks namely Samvardhana Motherson, Manappuram Finance, IRCTC, V-Mart Retail. Here's what brokerages said about these counters
Stocks to buy
Brokerage firm Nuvama Institutional Equities has a ‘Buy’ rating on Samvardhana Motherson (SAMIL) stock with a target price of Rs 110. The brokerage retained its positive view on strong management capabilities, expectations of a cyclical recovery in the PV segment, and increasing content due to mega trends such as premiumisation, and electrification
Samvardhana Motherson
share price target
According to analysts at Nuvama, historically, Samvardhana Motherson’s revenue and profits growth have outpaced underlying industry growth driven by rising content per vehicle, diversified geography & clients and acquisitions, and it believes this trend will continue. RoIC is likely to almost double from 9% in FY23 to 16% in FY25E, it said
Strong revenue and profits
growth for SAMIL
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Brokerage firm Motilal Oswal has a ‘Buy’ rating on Manappuram Finance stock with a target price of Rs 180 per share. The management has demonstrated that it will not pursue loan growth at the cost of compression in spreads and this, the brokerage believes, will continue to be a driver for higher profitability
Manappuram Finance
share price target
Analysts at Motilal Oswal believe that Manappuram Finance will be able to demonstrate the guided recovery in gold loan yields to around 22% and deliver a healthy gold loan growth of around 12%. This will give credence to the management attribution of gold loan growth to a lesser aggression from banks, and return of the core gold NBFC customers to the gold-lending fold, they said
Recovery in gold loan yields
Brokerage firm IDBI Capital has a ‘buy’ rating on IRCTC stock with a target price of Rs 745 per share. Going forward, the brokerage expects catering & tourism revenues to increase 22.4% YoY & 22.8% YoY in FY24E, mainly led by conversion of additional 200 trains in catering and addition of Vande Bharat and Bharat Gaurav trains
IRCTC share price target
Softness in ticketing revenue due to the absence of 2S revenue is expected to be offset by higher convenience revenues, said IDBI Capital analysts. Further, considering Q1FY24 numbers and increase in catering trains the brokerage has revised our margin estimates upwards by 126 bps & 27 bps for FY24E & FY25E
IRCTC’s revenue, margins
to improve
Axis Securities has a ‘Buy’ rating on V-Mart Retail stock with a target price of Rs 2,650 per share. The brokerage is positive on the company, and maintained its FY24/25 EBITDA estimates as the demand environment and business are likely to stabilise in the coming quarters, it said
V-Mart Retail share
price target
Despite the short-term challenges, analysts at Axis Securities remain confident about V-Mart Retail's long-term growth levers including recovery in demand, especially in rural areas; shifting market share from the unorganised to the organised sector; the company’s focus on the newly formed southern zone through unlimited stores; and renewed focus on increasing the share of online sales by integrating and scaling up the recently acquired Limeroad business
Positives for V-Mart Retail
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position