The brokerage's latest assessment reflects a mixed earnings season, with improving business momentum, margin expansion, volume growth and execution visibility supporting select companies, while elevated operating costs, competitive pressures, demand challenges and execution delays remain key concerns for others. HDFC Securities sees the highest potential upside in HG Infra, with a Buy rating and a reduced target price of Rs 701, implying an upside of around 83%. The brokerage has maintained ratings on all the 17 stocks but has revised target prices of few.
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HDFC Securities Instutional Equities
Following September-quarter earnings, HDFC Securities has maintained its ratings on 17 stocks across pharmaceuticals, capital markets, financial services, healthcare, retail, chemicals, building materials and infrastructure, including Zydus Lifesciences, BSE, FSN E-Commerce Ventures, Lupin, Multi Commodity Exchange of India, Anthem Biosciences, Sundaram Finance, Dr Lal PathLabs, Niva Bupa Health Insurance, Metropolis Healthcare, Aptus Value Housing Finance, Bata India, Balaji Amines, V-Mart Retail, Stylam Industries, Prince Pipes and Fittings and HG Infra.
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The brokerage's latest assessment reflects a mixed earnings season, with improving business momentum, margin expansion, volume growth and execution visibility supporting select companies, while elevated operating costs, competitive pressures, demand challenges and execution delays remain key concerns for others.
HDFC Securities has maintained ratings on all the 17 stocks.
HDFC Securities sees the highest potential upside in HG Infra, with a Buy rating and a reduced target price of Rs 701, implying an upside of around 83%.
Aptus Value Housing Finance carries an Add rating with a target price of Rs 315, indicating an upside of nearly 53%, while Stylam Industries has a Buy rating and an unchanged target of Rs 4,065, implying an upside of around 36%.
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The brokerage has also maintained Buy on MCX with a target price of Rs 4,000, implying an upside of 21%, and Niva Bupa Health Insurance with a target of Rs 95, indicating an upside of 23%.
Among other financial, exchanges and healthcare stocks, HDFC Securities has maintained ADD on Sundaram Finance with a target price of Rs 4,985, implying an upside of around 25%; BSE with a revised target of Rs 4,180 from Rs 3,900, indicating 16% upside; Dr Lal PathLabs with a target of Rs 2,330, implying 15% upside; and Metropolis Healthcare with a target of Rs 660, indicating 14% upside.
The brokerage has retained Add on Lupin at Rs 2,250, V-Mart Retail at Rs 850, Anthem Biosciences at Rs 960 and Zydus Lifesciences at Rs 1,280, with potential upsides of around 12%, 16%, 8% and 8%, respectively.
Zydus' target price was raised from Rs 1,240.
On the other hand, Nykaa and Balaji Amines continue to carry Sell ratings with target prices of Rs 240 and Rs 1,746, respectively, while Bata India and Prince Pipes and Fittings have Reduce ratings with targets of Rs 610 and Rs 290, respectively, implying limited downside from their respective closing prices.
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