Top brokerages, from Citi Research to JM Financial, have taken various stock calls on different stocks and sectors. The latter has initiated coverage on Bharti Hexacom with a 'buy' and a target price of Rs 790 apiece.
NDTV Profit is tracking what the brokerages are putting out on specific stocks. Here are all the top calls by the brokerages that you need to know about on Friday.
JM Financial On Bharti Hexacom
JM Financial initiates coverage on Bharti Hexacom with a 'buy' and a target price of Rs 790 apiece.
The average revenue per user on a structural uptrend, industry needs Rs 275–300 ARPU to meet future capital–expenditure needs.
The Ebitda compound annual growth rate can be higher at 15% during financial year 2024–30 in comparison to 12% for Bharti Airtel's wireless business.
Relatively lower capex and higher return on capital employed vs. Airtel.
Systematix Institutional Research On Inox Wind
Systematix Institutional Research retains 'buy' rating on Inox Wind Ltd. with target price of Rs 724 apiece, implying a potential upside of 34% from the previous close.
Successful strategic initiatives have enabled balance-sheet deleveraging.
Interest-bearing net debt stands at Rs 5 billion; the company will turn cash-flow positive in a few months.
Execution is expected to be 800 megawatts and 1,200 MW in the current and the next fiscal respectively.
Expects to maintain a 50-50% split between turnkey and equipment supply.
India to be 5–8GW market in fiscal 2025–26.
Bidding process is far more disciplined now and is expected to remain so.
Merger expected to conclude in coming months.
Citi Research On Geopolitical Risks
Oil prices spike driven by geopolitical risk premium in the Middle East
Price strength on strong oil demand despite weak US data last week.
Oil demand strength observed in the US, Europe, China, India, and Brazil.
Expects demand decelerating to 1-million-barrels-per-day pace in 2025.
Expects Russian oil output to fall, but exports to rise.
Expects Iraq to restart Kurdish pipeline by April, unlocking incremental production.
Acceleration in EV sales to contribute to peaking of oil demand by decade- end.
Goldman Initiates 'Buy' On Neuland Labs
Goldman Sachs initiated coverage on Neuland Laboratories Ltd. with a 'buy' and target price of Rs 9,100 apiece, implying an upside of 46%.
Barring challenges to FY25 growth on account of a high base, sees multiple catalysts for the company.
Goldman Sachs expects improving biotech funding environment.
New capacity at unit-3 coming online from FY25-end.
Commercialisation of a large molecule in FY26/27.
Key risks: product concentration risk, vendor consolidation, regulatory compliance issues.
Goldman Sachs Initiates Coverage On Syngene International
Goldman Sachs initiated coverage on Syngene International Ltd. with a 'buy' and price target of Rs 875 apiece, implying an upside of 20%.
Multiple catalysts are present for the company.
Leading position in CRO space with CDMO business is set to inflect
Improving biotech funding environment.
Ramp-up of Mangalore API/ Stelis biologics plant in H2FY25/FY26
Goldman Sachs expects new contract wins.
CLSA Retains 'Buy' On PVR Inox With Target Price Rs 2,280
CLSA has retained 'buy' with a target price of Rs 2,280 apiece, implying an upside potential of 65%.
Retains FY25/26CL admits of 187/210m and ATP of Rs 250/257
PVR Inox is sector leader in a consolidating market.
PVR Inox/multiplexes occupancy should re-build in the mid-long term as multiplexes.
Thinks current content challenge is not structural.
Content challenge will hit multiplexes’ and PVR Inox’s near term ticket pricing and margins.
The company plans to add 150-160 screens each year.
Motilal Oswal On PNB Housing Finance
The brokerage reiterates 'buy' on PNB Housing Finance with a target price of Rs 1,000 per share.
Plans to transform from housing financier to one that offers a wide bouquet of products.
Better product mix and lower cost of funds to offset the near-term impact on net interest margin.
Minor uptick in operational expenditure despite the pivot towards affordable housing.
Asset quality stress behind and write-backs to further support profitability.
Expects to deliver a healthy 18% compound annual growth rate in asset under management and 26% CAGR in profit over FY24–26.
Macquarie On Industrial Companies
India set for a multi-year capex upcycle with multiple themes at play.
Defence indigenisation stands out, and projects $300-billion opportunity over the next decade.
Capex upcycle aided with the government's infrastructure and policy thrust and increasing private-sector capex appetite.
Resumes coverage of India industrial stocks with Cummins India Ltd. and Bharat Electronics Ltd. as top picks.
Rates ABB India Ltd. and Siemens Ltd. as 'neutral' with Bharat Heavy Electricals Ltd. and Thermax Ltd. as 'underperform'.
Weaker-than-expected order inflow and prolonged raw material price volatility are key risks.
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