Multi Commodity Exchange of India Ltd
Sector: Exchange & Data Platform
We recommend BUY rating on Multi Commodity Exchange Of India Ltd, valuing FY24E core EPS at 40x to arrive at a target price of INR 1,767, implying an upside potential 35%.
24-Aug-2022
Recommended Price (₹)
1308
Buy
52 Week H/L (₹)
2134.9-1142.4
Sterlite Technologies Ltd
Sector: Connectivity & Networking
We value it at 17.1x of FY24E EPS of Rs 17.6 per share to arrive at a Target Price of Rs 300 per share giving 40% discount to Median Industry P/E of 28.5x.
30-Mar-2022
Recommended Price (₹)
226
Buy
Rail Vikas Nigam Ltd
Sector: Infrastructure
We value it at 5.3x of FY24E EPS of Rs 8.35 to value it at Rs 44 per share using dividend distribution approach for terminal dividend yield of 13.6% at current prices.
23-Dec-2021
52 Week H/L (₹)
44.75-20.65
Triveni Engineering and Industries Ltd
Sector: Sugar
We recommend Triveni Engineering with a BUY rating and Target Price of Rs 254 per share at 7.2x EV/EBITDA for FY23E owing to its rapid increase in EBITDA margins in FY23E, flourishing Water and Power Transmission business, and 21.85% stake in Triveni Turbines Ltd.
21-Oct-2021
Recommended Price (₹)
203
Buy
52 Week H/L (₹)
220-62.45
Orient Cement Ltd
Sector: Cement
We recommend Orient Cement with a BUY rating with a Target Price of Rs 190 per share at 5.7x EV/EBITDA for FY23E.
01-Oct-2021
Recommended Price (₹)
157
Buy
52 Week H/L (₹)
173.4-56.5
IDFC Ltd
Sector: Holding Company
We recommend a BUY rating on IDFC Limited with a patience to hold the stock for a Target Price of Rs 80 per share.
20-Sep-2021
Recommended Price (₹)
54.5
Potential Returns (%)
46.7
Buy
52 Week H/L (₹)
62.6-28.2
IDFC First Bank Ltd
Sector: Banking
We recommend IDFC FIRST Bank with a BUY rating and Target Price of Rs 73 per share for FY23E Adj BV of Rs 38 per share at 1.9x P/Adj. BV.
30-Aug-2021
Recommended Price (₹)
42.5
Buy
52 Week H/L (₹)
69.3-26.85
Poonawalla Fincorp Ltd
Sector: NBFC
We apply a P/BV of 2.1x on FY23E BVPS, to arrive at a target price of Rs 190 per share with an upside of 22% to CMP. Hence, we recommend a ‘BUY’ on the shares of MFL.
06-Jul-2021
Recommended Price (₹)
190
Buy
52 Week H/L (₹)
199.65-31.8
Indian Railway Finance Corporation Ltd
Sector: NBFC
We apply a P/BV of 0.86x on FY23E BV, to arrive at a Target Price of Rs. 28 per share with an upside of 21.5% to CMP. Hence, we recommend a ‘BUY’ on the shares of IRFC Ltd.
18-May-2021
Potential Returns (%)
21.5
Buy
52 Week H/L (₹)
26.6-20.75
Gujarat Narmada Valley Fertilizers & Chemicals Ltd
Sector: Chemicals & Fertilisers
We recommend a BUY on GNFC with a TP of Rs 380 based on 8x FY23E EPS. Our TP represents a 21% upside to the company’s stock from its CMP of Rs 313.
06-Apr-2021
Recommended Price (₹)
313
Buy
52 Week H/L (₹)
425-183.25
Indian Railway Catering & Tourism Corporation Ltd
Sector: Travel & Hospitality Services
Given the monopoly nature, consumer technology platform, and strong cash flow of the business, we are ascribing a P/E multiple of 45x on FY23E EPS of the company and arrive at a TP of Rs 2,230 per share.
02-Mar-2021
Recommended Price (₹)
1897
Buy
52 Week H/L (₹)
4017-1291
NMDC Ltd
Sector: Iron Ore Mining
Based on FY22E EBITDA, we apply EV/EBITDA multiple of 4.2x and arrive at a target price of INR 161/per share with an upside of ~27% from CMP and hence recommend a BUY on the shares of NMDC Ltd.
26-Feb-2021
Recommended Price (₹)
127
Buy
52 Week H/L (₹)
213.15-75.6
Steel Authority of India Ltd
Sector: Iron Ore & Steel Products
We expect EBITDA to grow at a CAGR of 19% over FY20/22E supported by iron ore revenue and high steel prices. Based on FY22E EBITDA, we apply EV/EBITDA multiple of 5.6x and arrive at a target price of INR 92/per share with an upside of ~18% from CMP and hence recommend a BUY on the shares of SAIL
08-Jan-2021
52 Week H/L (₹)
151.1-32.65
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