Stock brokerages namely Nuvama Institutional Equities, ICICI Securities, Phillip Capital, and Motilal Oswal have come out with research reports on select stocks namely Nykaa, Phoenix Mills, RateGain Travel Technologies, Mahindra Lifespaces. Here's what brokerages said about these counters
Nuvama Institutional Equities has a ‘Buy’ rating on Phoenix Mills stock with a target price of Rs 1,694 per share. Its bullish stance on the stock stems from the company’s leadership in malls, and a healthy consumption trajectory
“Revival in consumption/occupancy in malls/hotels and ready inventory liquidation in the housing segment are likely to culminate in robust cash flows. We maintain ‘BUY/SN’ with a TP of Rs 1,694,” said Nuvama in its report
ICICI Securities has a ‘buy’ call on FSN E-Commerce Ventures (Nykaa) stock with a target price of Rs 165. According to the brokerage, Nykaa aims to improve contribution margins in the fashion segment which should help allay investor concerns around cash burn
In Q4FY23, the contribution margin for the ‘Others’ segment of Nykaa improved due to scale benefits; it should continue as the business matures. Given improving visibility on profitability, ICICI Securities upgraded the stock to ‘Buy’ from ‘Upgrade’ rating earlier
Phillip Capital has a ‘Buy’ call on RateGain Travel Technologies stock with a price of Rs 540. The brokerage firm believes that Rategain is likely to benefit from demand momentum in travel, despite macro headwinds
According to Phillip Capital, Rategain currently trades at an attractive FY25 EV/sales multiple of 3.6x, compared to key vertical/horizontal SaaS players that trade at CY24 EV/sales multiple of 4.3x/7.7x. “We are factoring in 38% revenue CAGR with 400bps EBITDA margin expansion over FY23-25 resulting in 47% PAT CAGR,” the brokerage said
Motilal Oswal has a ‘buy’ rating on Mahindra Lifespaces stock with a target price of Rs 520. Given the strong project pipeline, Mahindra Lifespaces remains on track to achieve its stated guidance of Rs 25 billion pre-sales by FY25. It might as well achieve this target a year prior, the brokerage said
“We believe continued traction in business development will provide further growth visibility in the residential segment, which is currently not baked into the valuation and continues to remain a key catalyst for the stock,” Motilal Oswal said on Mahindra Lifespaces stock
“We believe continued traction in business development will provide further growth visibility in the residential segment, which is currently not baked into the valuation and continues to remain a key catalyst for the stock,” Motilal Oswal said on Mahindra Lifespaces stock
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