Century Ply, Nexus Select, TD Power: Brokerages initiate coverage with 24% upside potential

Domestic stock indices settled lower on Monday, thanks to a sharp sell-off in select index heavyweights amid disappointing Q1 earnings. The BSE Sensex dropped 299.48 points, or 0.45 per cent, to settle at 66,384.78. The NSE Nifty plunged 72.65 points, or 0.37 per cent, to end the day at 19,672.35.

Brokerages such as Anand Rathi, Antique Stock Broking and Bonanza Portfolio have initiated coverage on stocks such as TD Power Systems, Nexus Select Trust and Century Plyboards. Here's what these brokerages have to say about these stocks:

Bonanza Portfolio on Century Plyboards
Rating: Buy | Target Price: Rs 820 | Upside: 24%
Century has fared well as a leading plywood producer and supplier, having a market share of 25 per cent in the organised market on the back of excellence across product segments and winning innovations, driven by technological inducements. Superior product mix leading to improved margins, strong industry tailwinds to catalyse future growth and robust capacity expansion plans are well in place to cater to the increasing demand makes Century a credible play in wood panel space.

Antique Stock Broking on on Nexus Select Trust
Rating: Buy | Target Price: Rs 131 | Upside: 13%
Nexus Select Trust is India's first retail focused REIT offering an opportunity to capitalise on the consumption tailwinds of India's growing middle class and rapid urbanisation. With a robust portfolio of 17 prime urban consumption centers spanning 14 major cities, Nexus Select Trust emerges as a leading contender poised to reap significant benefits from the increasing penetration of organised retail. Antique has initiated coverage on the stock with a 'Buy'' rating and a target price of Rs 131, translating to a return of 13 per cent and annual yield of 6.9 per cent over the next 12 months.

Anand Rathi on on TD Power Systems
Rating: Buy | Target Price: Rs 131 | Upside:24%
TD Power Systems is one of the leading manufacturers of AC generators for a diverse range of prime movers such as steam, gas, hydro and wind turbines as well as diesel and gas engines. Despite Covid-19 pandemic and overseas headwinds, the company has shown improvement in performance.  The stock is trading at 40 times FY23 EPS. Anand Rathi has initiated the coverage with a 'Buy' rating on this stock by assigning 31.4 times of FY25 earnings with a target price of Rs 312.


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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