Stock brokerages namely Axis Securities, B&K Securities, Motilal Oswal and Nuvama Institutional Equities have come out with research reports on select stocks namely Astral, Triveni Turbine, Quess Corp and Gland Pharma. Here's what brokerages said about these counters
Axis Securities has a ‘Buy’ rating on Astral stock with a target price of Rs 1,870. According to the brokerage, the capex phase for Astral is almost peaked out, and well placed to fulfil upcoming demand as current capacity utilisations are 60%
- Slowdown in housing demand in the country
- An increase in interest rates could impact housing demand in the longer term
- An increase in raw material prices could impact the profitability of Astral
B&K Securities has a ‘buy’ call on Triveni Turbine stock with a target price of Rs 437. It revised its earnings estimates by 3.3%/7.2% for FY24/25E on the back of robust order book and healthy enquiry pipeline
According to the brokerage, with strong balance sheet, lean working capital, almost nil debt, market leader in industrial steam turbines up to 30 MW, available opportunity in exports and API market and enhancing market share by approaching 30-100 MW segment independently, Triveni Turbine is well-positioned to capitalise on the industrial recovery in both global and Indian markets
Nuvama Institutional Equities has a ‘Buy’ call on Quess Corp stock with a price of Rs 420. According to the research, brokerage firm, Quess’s near-term outlook may remain jittery, but a correction of ~40% in the stock price over the past one year sufficiently factors that in
“In the near term, Quess’s margin trajectory may be jittery; however, reduced cash burn in emerging business & US staffing turning positive should lift margins over the medium term,” said Nuvama Institutional Equities
Motilal Oswal Financial Services has a ‘Buy’ rating on the stock with a target price of Rs 1,460. The brokerage expects a slow recovery over the next 12-15M aided by new launches in China/other regulated markets, newer contracts in CDMO segment and inventory rationalisation of existing products
“We cut our earnings by 36%/22% for FY24E/FY25E factoring in: a) reduction in scope of business from a bankrupt customer, b) gradual revival in business due to shift of business by another customer to alternate supplier, and c) reduced share of profit due to higher competition in existing product portfolio,” said Motilal Oswal
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position