Stock brokerages recently came out with research reports on select stocks namely Hindalco Industries, Coal India, Marico, Westlife Foodworld and Welspun Corporation. Among these five stocks, Coal India, Marico and Hindalco received 'Buy' reccomendations. Hindalco Industries and Westlife Foodworld, on the other hand, received 'Add' ratings from broking firms
Rating: Buy | Target Price: Rs 275
PhillipCapital has a 'Buy' call on Welspun Corporation, with a target of Rs 275, implying a 28% potential upside. Welspun Corp has completed acquisition of Sintex BAPL for a cash consideration of Rs 1,250 crore through a wholly-owned subsidiary
Phillip Capital said it is positive on the acquisition of Sintex’s plastic division, as the B2C business will provide better revenue stability than Welspun’s existing pipe business, and can help the company in downturns
Rating: ADD | Fair Value: Rs 455
Hindalco announced a substantial reduction in growth capex to $4.5 billion, to be spent in the next five years. This is against $7.9 billion spends announced a year ago. The company management believes margin headwinds at Novelis are transient
Kotak Institutional Equities has a 'Add' rating on the stock with a target of Rs 455, implying an upside of 13% from Wednesday's closing price. "The cut in the growth capex is a sign of low confidence on operating cash flows," said Kotak
Rating: ADD | Target Price: Rs 790
ICICI Securities has a 'Add' rating on Westlife Foodworld. It finds the stock worth Rs 790, thanks to the company's increased focus on meals through launch of gourmet range of burgers, increasing relevance in South India through fried chicken, coffee adoption
Analysts at ICICI Securities are also positive on Westlife Foodworld stock due to company's omni-channel strategy of increasing consumer experience across touchpoints; accelerated plans of network expansion; and margin expansion to 18-20% through product mix improvement, cost savings and operating leverage
Rating: Buy | Fair Value: Rs 295
Nuvama Institutional Equities believes cost has peaked out while e-auction prices, though off highs, are still high. It does not rule out a hike in fuel supply agreement (FSA) price in FY24
Nuvama Institutional Equities has retained its 'Buy' call on Coal India, given sustained volume growth, high dividend yield, cheap valuation and potential price hikes under FSA. The brokerage has fixed target price at Rs 295, suggesting 32% upside from Wednesday's closing price
Rating: Buy | Fair Value: Rs 590
After achieving a 6% sales CAGR over FY15–20, Marico's sales momentum has improved with double-digit sales CAGR expected over FY20–24. This is likely to sustain beyond FY24. as well, according to Motital Oswal Securities
Motilal Oswal sees sales growing in FY24, propelled by ongoing momentum in each of its core segments and significantly higher growth rates as well as targets in the Foods portfolio. The brokerage maintained 'Buy' rating on Marico stock with a target price of Rs 590, a 22% upside from April 5, 2023 closing
The content in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position