Stock brokerages such as Kotak Institutional Equities, IIFL Securities, HDFC Securities, Nuvama Research have come out with research reports on select stocks namely Sula Vineyards, Quess Corp, Bharat Forge, Dabur India. Here's what brokerages said about these counters
Kotak Institutional Equities has an ‘Add’ rating on Sula Vineyards stock with a fair value of Rs 500 per share. According to the brokerage, Sula is the largest producer and seller of wine in India, with a 50%+ share (60%+ in elite/premium wines) in the domestic 100% grape wine market. It has been a consistent market leader in volume/value and across price segments/variants
Analysts at Kotak Institutional Equities noted that Sula Vineyards’ key strengths include strong brand equity/awareness; comprehensive product portfolio; wine tourism that enables market development & brand building; secured RM sourcing; and wide distribution. “Sula’s operating metrics are far superior to those of its domestic peers,” it said
IIFL Securities has a ‘Buy’ rating on Quess Corp stock with a bull case fair value of Rs 494 per share. As per the brokerage, while margins are likely to remain under pressure in near term, recovery is close. Analysts believe that valuations are very reasonable, given the long-term formalisation opportunity in India
“The stock has given a rounding bottom breakout on the daily chart and has crossed above the 200-day EMA with good volume, giving it a bullish bias. The weekly RSI is at the highest level since December 2021 after breaking out from a consolidation zone, indicating an increase in bullish momentum. Thus, we expect the stock to trade with a positive bias and reach its target of Rs 494,” said IIFL Securities
HDFC Securities has a ‘Buy’ rating on Bharat Forge shares with a target price of Rs 998. The brokerage believes that a strong order backlog in aerospace would help boost companies’ revenues to Rs 5 billion from Rs 1.7 billion over the next 4 years
Analysts at HDFC Securities expect Bharat Forge’s EPS to sharply improve to Rs 40 by FY25E, from Rs 12 per share in FY23. “At 20.5x FY25 earnings, BHFC appears attractive relative to its peers. Maintain Buy with an unchanged TP of INR 998 per share (15x FY25 EPS)," the brokerage said
Nuvama Research has a ‘Buy’ call on Nuvama Research stock with a target price of Rs 705 per share. According to the brokerage, Dabur would benefit from likely growth revival due to MSP hikes, higher subsidies given election year (many states, union government likely to do so). Foods & Beverages sales could be muted though due to unseasonal rains in Q1FY24
Analysts at Nuvama Research expect Dabur’s performance to energise in FY24 driven by; recovery in its healthcare portfolio; an improving international business; easing prices of raw materials, lifting EBITDA margin; a 20% growth in Badshah Masala in FY24E; market share gains; and potential rural recovery
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