Research House: Emkay
Advice: Buy
Stock Price: Rs 907
1-year Target Price: Rs 1,100
Potential Upside: 21.3%
Comment: Retain buy as it will benefit from its cost-competitive R&D compared with peers, asset-light model, PLI scheme benefits and strong revenue visibility due to BSNL and BharatNet projects execution.
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Research House: ICICI Securities
Advice: Buy
Stock Price: Rs 1,531
1-year Target Price: Rs 1,850
Potential Upside: 20.8
Comment: Upgrade to buy due to robust RoA (both reported and adjusted) and uptick in NIMs in the March quarter. Also, comfortable asset quality and expectations of strong deposit growth and healthy loan to deposit ratio are other positives.
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Research House: Motilal Oswal
Advice: Buy
Stock Price: Rs 1,321
1-year Target Price: Rs 1,590
Potential Upside: 20.4%
Comment: Reiterate buy due to continuing momentum in volume growth, market share gain driven by operational efficiencies and cargo diversification, improving balance sheet and strong cash flow generation.
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Research House: Antique Stock Broking
Advice: Buy
Stock Price: Rs 593
1-year Target Price: Rs 710
Potential Upside: 19.7%
Comment: Maintain buy due to growth in retail protection plans and annuities, improvement in distribution mix, expectations of stable margins in the future and focus on industry leading APE growth.
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Research House: Nuvama
Advice: Buy
Stock Price: Rs 1,171
1-year Target Price: Rs 1,400
Potential Upside: 19.6%
Comment: Retain buy amid strong performance in the March quarter led by improvement in EBITDA, PAT and margins. Also, innovation, distribution expansion and foray into new segments will continue to drive growth in the future.
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Research House: Centrum Broking
Advice: Buy
Stock Price: Rs 2,960
1-year Target Price: Rs 3,481
Potential Upside: 17.6%
Comment: Maintain buy due to healthy operating performance in 2023-24. Also, ongoing telecom and retail growth, increased energy sector investment and 5G monetisation will drive future growth.
Source: ET Wealth Edition April 29, 2024
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