Brokerage houses have come out with research reports on select stocks, namely IGL, GNFC, Sapphire Foods India, and APL Apollo Tubes. Brokerages have a positive view on them. Here's what brokerages said about these counters
Prabhudas Lilladher has a ‘buy’ rating on IGL stock with a target price of Rs 586 per share. The brokerage has, however, trimmed its FY24-25E earnings by 3%/6% to build in lower volumes
“We believe that IGL remains an enviable business model with high volume growth due to geographical expansion and addition of new buses and taxis and factor 22% CAGR earnings growth over FY23-25E,” said Prabhudas Lilladher
HDFC Securities has a ‘Buy’ call on Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC) stock with a fair value of Rs 690 per share
“We think the fair value of the stock is Rs 690. Investors can buy the stock in Rs 619-626 band and add more on dips in Rs 565-575 band,” said HDFC Securities on GNFC stock
ICICI Securities has a ‘Buy’ rating on QSR firm Sapphire Foods India stock with a target price of Rs 1,277 per share. The brokerage likes company’s increased investments towards increasing relevance, awareness, innovation etc
According to ICICI Securities, Sapphire Foods’ margins are expected to remain under pressure in the near term. Key risks to the stock include irrational competition due to increased store expansion, failure to turnaround Pizza Hut
Motilal Oswal Financial Services has a ‘Buy’ rating on the stock with a target price of Rs 1,490. The brokerage expects the company to maintain its growth trajectory on a strong demand outlook
“The incremental capacity from upcoming plants and debottlenecking, along with the addition of high-margin products from the Raipur unit, should result in strong volume growth and margin expansion going ahead,” said Motilal Oswal
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