Following September-quarter earnings, HDFC Securities retained a positive stance on several stocks across real estate, EMS, financials, capital markets, retail, chemicals, gas distribution and building materials including Lodha Developers, Syrma SGS, NTPC Green Energy, LIC Housing Finance, Aarti Industries, Central Depository Services, Aditya Birla Lifestyle Brands, Neogen Chemicals, Birla Corporation, Quess Corp, Sagar Cements, Greenpanel Industries, IRM Energy.
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HDFC Securities Institutional Equities
Following September-quarter earnings, HDFC Securities retained a positive stance on several stocks across real estate, EMS, financials, capital markets, retail, chemicals, gas distribution and building materials including Lodha Developers, Syrma SGS, NTPC Green Energy, LIC Housing Finance, Aarti Industries, Central Depository Services, Aditya Birla Lifestyle Brands, Neogen Chemicals, Birla Corporation, Quess Corp, Sagar Cements, Greenpanel Industries, IRM Energy.
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The brokerage's latest assessment reflects a mixed earnings season, with healthy loan growth, improving operating performance and business expansion supporting some companies, while margin pressures, subdued demand and regulatory concerns continue to weigh on others.
The brokerage maintained Buy on NTPC Green Energy with a reduced target price of Rs 115 from Rs 124, implying a potential upside of around 39%.
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For Syrma SGS Technology, HDFC Sec has set a higher target of Rs 1,800 from Rs 1,650, which gives about 19% upside, CDSL with a target of Rs 1,570 (25% upside), Neogen Chemicals at Rs 2,580 (23% upside), Greenpanel Industries with a lower target of Rs 170 from Rs 230 (37% upside) and IRM Energy at Rs 352 from Rs 369 (55% upside).
In the consumer and retail segment, the brokerage sees hightest potential in Aditya Birla Lifestyle Brands, with a target price of Rs 135, implying a potential upside of upto 88%, and Quess Corp remained positively rated as the brokerage expects earnings recovery and operational improvements to support future growth.
Meanwhile, Aarti Industries was the only stock under a Reduce rating while marginally raising the target price to Rs 502 from Rs 498, implying a more limited 17% upside, reflecting valuation concerns and a relatively cautious earnings outlook despite a marginal increase in the target price.
Among Add-rated stocks, it maintained Lodha Developers with a target price of Rs 1,299 (30% upside), LIC Housing Finance at Rs 660 from Rs 676 (33% upside), Quess Corp at Rs 390 from Rs 370 (23% upside), Sagar Cements at Rs 190 (51% upside) and Birla Corporation at Rs 1,080 from Rs 1,140 (35% upside).
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