Stock brokerages such as Axis Securities, Sharekhan, Motilal Oswal, and Centrum Broking have come out with research reports on select stocks namely TeamLease, Dalmia Bharat, IFB Industries, Strides Pharma. Here's what brokerages said about these counters.
Axis Securities has a ‘buy’ call on Dalmia Bharat stock with a target price of Rs 2,230 per share. According to the brokerage, the company’s organic capacity expansion plan is progressing well. Higher blending ratio and increase in the sale of premium products along with softening in commodity prices will aid higher EBITDA margins going forward, it said
As per analysts at Axis Securities, Dalmia Bharat is expected to report an EBITDA margin of 21% and 22% respectively in FY24E and FY25E from the current 17% driven by higher volume, better realization, and cost optimization initiatives. The company is likely to further consolidate its market position in the region.
Sharekhan has a ‘buy’ call on Strides Pharma stock with a target price of Rs 450. The stock trades at reasonable valuations compared to peers, according to the brokerage.
Analysts at Sharekhan are bullish on Strides Pharma given that the company plans to increase the branded portfolio of products in South Africa and focus on productivity enhancements of its field force. It also intends to concentrate on maximizing the US and UK-approved portfolio
Motilal Oswal has upgraded TeamLease stock to ‘Buy’ with a target price of Rs 2,890. With current valuations focused on near-term challenges, the brokerage sees a scope for a re-rating in the stock as these challenges ease out.
“With healthy growth prospects, EPF issues behind, margin recovery in place, and a sharp correction in the stock price, we upgrade TEAM to BUY with a TP of Rs 2,890, implying 25x FY25E EPS, a 10% discount to its 5-year median P/E (2- yr forward) on account of slow normalization of profitability,” said Motilal Oswal.
Centrum Broking has an ‘Add’ rating on IFB Industries stock with a target price of Rs 875 per share. “Scale‐up in AC and healthy growth in Washing Machine will be key revenue drivers for IFB Industries. Attaining high single-digit margin will be a key challenge amid high competition,” it said.
Analysts at Centrum Broking believe that key market share drivers for front-load washing machine category will be new product offerings, and enhancing product availability through distribution reach expansion and higher channel extraction. In Top Load, demand for higher capacity models continues to be healthy and consistent.
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