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Axis Securities Report
State Bank of India - ROA Delivery Of 1%+ To Continue
(current market price: 821 / target price: 1,030 / Upside: 25%)
Amongst public sector banks, SBI is the best play on the growth trajectory of India’s economic growth supported by its-
Comfortable footing on the C-D Ratio,
Healthy PCR,
Adequate capitalization and
improved asset quality outlook.
We recommend a Buy with a target price of Rs 1,030/share.
Key risks: Significant slowdown in credit growth
Prestige Estates Projects – Growth Driven By Business Model
(current market price: Rs 1,640/ Target Price: 2,195 / Upside: 34%)
We maintain a Buy recommendation on Prestige Estates. Based on our DCF valuation method.
Sansera Engineering - Strong Order book; Capex and Diversified Product Segment Drive Growth
(current market price Rs 1,577/ Target Price: 1,875 / Upside: 19%)
In light of attributes such as-
Higher sales mix in Non-Auto ICE components,
Higher International business (exports),
Focused approach on improving margin trends,
The company’s capability to generate strong operating cash flows, and
Capacity expansion plans, we expect revenue, Ebitda, and PAT to grow at CAGRs of 17%, 20% and 22% respectively over FY24-26E.
Key risks:
Macro Economic Uncertainty,
Business skewed towards ICE vehicles.
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