Stock brokerages such as Motilal Oswal, ICICI Securities, Sharekhan, others have come out with research reports on select stocks namely Ultratech Cement, Havells India, BEL, Oberoi Realty, and more. Here's what brokerages said about these counters
Axis Securities has a ‘buy’ rating on Ultratech Cement stock with a target price of Rs 9,350 per share. The brokerage believes that with ongoing capacity expansion, superior monitoring of cost drivers, and a strong demand environment, the cement company is expected to report Revenue, EBITDA, and APAT CAGR of 9%, 24%, and 32% respectively over FY23-FY25
LKP Securities has a ‘buy’ rating on Havells India stock with a target price of Rs 1,453 per share. According to the brokerage, Havells’ margin has hit a trough and will continue to improve from here on, given softening commodity inflation; an increase in the premium mix, and lowering losses in Lloyd
Prabhudas Lilladher has a ‘Buy’ rating on Hero MotoCorp shares with a target price of Rs 3,200. The brokerage is positive after Harley Davidson (HD) X440 launch in India. “Hero MotoCorp is moving in the right direction and re-rating is possible if it can make in-roads in premium segment,” it said
ICICI Securities has a ‘buy’ rating on Bharat Electronics shares with a target price of Rs 150 apiece. “We continue to believe that, with a share in almost all the major upcoming orders over the next few years, BEL is the best play in the defence space,” it said
Motilal Oswal has a ‘buy’ rating on Samvardhana Motherson shares with a target price of Rs 102 apiece. “Our positive view on Motherson remains intact based on an industry-wide recovery, execution of a strong order book for SMRPBV, receding cost inflation, and capacities in place for growth,” it said
HDFC Securities Institutional Equities has a ‘buy’ rating on Oberoi Realty stock with a target price of Rs 1,158 per share. The brokerage is constructive on the counter. “We believe Oberoi Realty will generate robust cash flow from ready-to-move-in inventory in the 360W and Mulund projects. Besides, new business development outside MMR shall aid further rerating,” it said
Sharekhan has a ‘Buy’ call on Dr Reddy’s stock with a target price of Rs 5,963 per share. According to the brokerage, Dr. Reddy’s FY23 performance was one of the best in recent times. The company’s recent foray in the trade generics business in India and receipt of settlement income of Rs 56 crore in Q1FY2024 bode well for boosting earnings growth marginally to around 10.2% CAGR from 9.1% CAGR over FY23-FY25E. "The stock is trading at an attractive valuation," it said
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