Stock brokerages namely Anand Rathi, Pradbhudas Lilladher, ICICI Direct, and Motilal Oswal have come out with research reports on select stocks namely HDFC Bank, Dilip Buildcon, Bharat Electronics, and Indus Tower. Here's what brokerages said about these counters.
ICICI Securities has a ‘Buy’ rating on BEL stock with a target price of Rs 140 per share. According to the brokerage firm, BEL is one of the strategic DPSUs which is set to receive over Rs 1,100 billion worth of order inflow over the next 5 years.
“We believe BEL is set to gain both from steady execution and order book accretion. We maintain BUY on BEL stock with a revised TP of Rs 140/share on 25x FY25E EPS,” said ICICI Securities in its report.
Anand Rathi has a ‘buy’ call on Dilip Buildcon stock with a target price of Rs 225. According to the brokerage, while operating profitability was subpar in Q4FY23, the progressively depleting margin-drag older OB and rising contribution from recent orders suggest potential.
“Recognising that aggressive revenue growth could necessitate further working capital, it looks to grow in a measured manner. FY24 inflow guidance too appears to conform to this. This, and continuing efforts to prune WC cycle and the restrained guided to capex, suggest CF generation is still a priority. Monetisation efforts to continue. Comforting execution, levers to de-lever further and benign valuations make us raise our rating to a Buy,” as per Anand Rathi.
Motilal Oswal has a ‘Buy’ call on HDFC Bank stock with a price of Rs 1,950. The brokerage firm believes that HDFC Bank is well-positioned to sustain healthy growth, supported by new initiatives, robust branch additions and expansion of digital offerings.
According to Motilal Oswal, HDFC Bank has delivered strong business growth vs peers, resulting in constant market share gains. Its Asset quality ratios remain robust, while the restructured book has moderated to 31bp of loans. Healthy PCR and a contingent provisioning buffer should support asset quality, it said.
Prabhudas Lilladher has a ‘buy’ rating on Indus Tower stocks with a target price of Rs 164, and stop loss of Rs 141. The stock after forming a strong base near 136 zone had given a decent pullback and recently after a short correction has consolidated and again indicated a pullback to move past the important 50EMA level of 146 to improve the bias, the brokerage said.
“The RSI is also well placed and after the short dip has indicated a trend reversal with improving bias and has upside potential to anticipate further rise in the coming days. We suggest buying and accumulating this stock for an upside target of 164 while keeping the stop loss of 141,” said PL on Indus Towers stock.
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