Following September-quarter earnings, HDFC Securities has maintained its postive stance on 15 stocks across ports, including Life Insurance Corporation of India, Apollo Hospitals, Titan Company, Aurobinod Pharma, Ipca Labs, Berger Paints, Astral, Ramco Cements, Kansai Nerolac, Century Plyboards India, Vinati Organics, JK Lakshmi Cement, Galaxy Surfactants, Somany Ceramics, Teamlease. 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.
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HDFC Securities Institutional Equities
Following September-quarter earnings, HDFC Securities has maintained its postive stance on 15 stocks across ports, including Life Insurance Corporation of India, Apollo Hospitals, Titan Company, Aurobinod Pharma, Ipca Labs, Berger Paints, Astral, Ramco Cements, Kansai Nerolac, Century Plyboards India, Vinati Organics, JK Lakshmi Cement, Galaxy Surfactants, Somany Ceramics, Teamlease.
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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.
Among the stocks HDFC Securities sees the highest potential upside in Vinati Organics of about 72.6% followed by JK Lakshmi Cement with 43.8% and LIC with 36%.
Among the key recommendations, the brokerage retained Buy ratings on Life Insurance Corporation of India with a target price of Rs 555, Apollo Hospitals Enterprise with a revised target price of Rs 9,900 from Rs 10,000, IPCA Laboratories with a higher target price of Rs 2,240 from Rs 2,010, Century Plyboards India with a target price of Rs 860, and Vinati Organics with a target price of Rs 1,742, though lowered from Rs 1,960.
The brokerage also maintained Add on Aurobindo Pharma, raising the target price to Rs 1,950 from Rs 1,730.
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Among the paints sector chemicals and building material segment, HDFC securities has retained Buy on Berger Paints with a target price of Rs 550 from Rs 540; Galaxy Surfactants with a target price of Rs 2,775; JK Lakshmi Cement with a target price of Rs 680; Somany Ceramics with a higher target price of Rs 700 from Rs 66), while Kansai Nerolac retained a Reduce rating with a target price of Rs 200 amid margin pressure from input-cost inflation.
In It services Teamlease Services retains 'Buy' with a revised target price of Rs 1,350 from Rs 1,420.
On the other hand, Titan Company remained a Reduce despite a target price increase to Rs 4,700 from TRs 4,500 following strong jewellery-led growth, Astral saw the sharpest rating action, with HDFC Securities downgrading the stock to Add from Buy and cutting its target price to Rs 1,540 from Rs 1,770 due to weaker-than-expected margins.
In the cement space, the brokerage maintained SellL on The Ramco Cements with an unchanged target price of Rs 830, citing elevated leverage and subdued profitability.
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