Stock brokerages including Nuvama Institutional Equities, ICICI Securities, Axis Securities, and Motilal Oswal have come out with research reports on select stocks namely ICICI Lombard, Birla Corporation, Hindware Home Innovation, Bharat Heavy Electricals (BHEL). Here's what brokerages said about these counters
Nuvama Institutional Equities has a ‘Buy’ rating on Hindware Home Innovation stock with a target price of Rs 653 per share. With a constant focus on product innovation, a timely ramp-up in pipe capacity, and a positive demand outlook, the company is expected to deliver strong overall growth, the brokerage said
“From being a manufacturer of just one product, HINDWARE has grown significantly to gain market leadership in sanitary ware and being a major faucet ware player. Given its strong positioning in bath ware, a greater presence in pipes and fittings and consumer appliances, a comprehensive product portfolio, strong brand recall, and a wide and expanding distribution reach, we are optimistic about its medium to long-term growth prospects,” Nuvama said in its report
ICICI Securities has a ‘buy’ call on Bharat Heavy Electricals (BHEL) stock with a target price of Rs 100. According to the brokerage, strong thermal ordering outlook of 6GW in FY24 and 9GW thereafter bodes well for order inflows and profitability in a low-competition environment
According to analysts at ICICI Securities, revival in slow-moving orders and liquidation of large contract assets in the next 2 years is likely to generate significant cashflow for BHEL. Given the higher thermal order pipeline, possibility of liquidation of contract assets and execution ramp-up in FY25E, the brokerage maintains buy call on the stock
Axis Securities has a ‘Buy’ call on Birla Corporation stock with a price of Rs 1,111. The brokerage firm believes the company has guided for a volume growth of 15% in FY24. “Ramping up of new Greenfield unit in Maharashtra would greatly aid in the company’s revenue and volume growth moving forward,” it said
Axis Securities expects BCL to report Revenue, EBITDA, APAT CAGR of 11%, 14%, and 22% respectively over FY22-FY25E. “The stock is currently trading at 7x and 6x FY24E/FY25E EV/EBITDA and EV/tonne of USD66 and 63 which is attractive compared to other similar peers in the industry,” the brokerage said
Motilal Oswal has a ‘buy’ rating on ICICI Lombard stock with a target price of Rs 1,400. Going ahead, growth in the motor segment is likely to be back-ended with the company waiting for the rationalisation of pricing in the OD segment. On the health segment, the benefits of price hike and improving efficiency of the agency channel should translate into improved profitability, as per the brokerage
According to analysts at Motilal Oswal, synergy benefits from Bharti AXA merger (technology-related), scale benefits, and improvement in mix on health business (higher share of retail health) should aid in improving the combined ratio and RoE over the next couple of years
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