Here Are The Top Stock Picks For January 2024 By KRChoksey

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..KRChoksey Research Report.Investment period: six months. Research idea: FundamentalHDFC Bank - Consistent performance with sustainable ROA of 2.0%(CMP Rs: 1,691, Target: Rs 2,060, Potential upside: 21.8%)We expect HDFC Bank Ltd.'s current valuation to re-rate on the back of-a strong balance sheet,improved opportunities for business growth with healthy CET, improving margin outlook in the long term; andan adequate cushioning in terms of provisions with stable asset quality. We value the bank's standalone business at 2.8 times FY25E price/adjusted book value to Rs 1,857 and the subsidiaries at Rs 203, taking the total value to Rs 2,060 per share, implying an upside of 21.8% from the current price. Accordingly, we maintain a 'Buy' rating on the shares of HDFC Bank..Happiest Minds - A strong focus on organic growth and cost control measures will aid revenue and margin(CMP Rs: 901, Target: Rs 1,062, Potential upside: 17.9%)We estimate Happiest Minds Technologies Ltd.'s revenue to grow at 22.6% compound annual growth rate over FY23-25E and profit after tax to grow at 16.5% CAGR over FY23-25E. Currently, the stock is trading at price-to-equity multiples of 57.0 times/39.7 times based on our FY24E/FY25E earnings per share estimates, respectively. We assign a P/E multiple of 45 times on FY25E EPS of Rs 22.7 to arrive at a target price of Rs 1,062 and maintain the recommendation of ‘Buy’ and imply an upside potential of 17.9% over current market price..Varun Beverages - Capex and entry into new geographies to boost growth(CMP: Rs 1,262, Target: Rs 1,505, Potential upside: 19.3%)We expect net revenue/ Ebitda/adjusted profit after tax to grow at a CAGR of 17.3%/ 20.2%/ 26.2% over CY22-CY25E. We assign a P/E multiple of 65.0 times to CY25E earnings per share of Rs 23.2 to arrive at a target price of Rs 1,505 per share, with an 19.3% upside from current levels. Accordingly, we maintain a 'Buy' rating in the shares of Varun Beverages Ltd..Click on the attachment to read the full report:.Adani Ports - Strong Volume Growth To Boost Performance: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Here Are The Top Stock Picks For January 2024 By KRChoksey

Top investment ideas include HDFC Bank, Happiest Minds and more

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