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Yes Securities Report
Hindalco – Current market price: Rs 570 / Target price: Rs 725 / Upside: 27% / Period: 12 Months
With -
steadfast focus on downstream businesses for Aluminium and Copper,
emphasis on cost optimisation projects to ensure global competitiveness,
sustainably strong earnings outlook in the light of upcoming capex and
a discernable bottoming of global Aluminium prices makes us bullish on Hindalco Industries Ltd. and we recommend a Buy on the stock.
HCLTech - Current market price: Rs 1545 / Target price: Rs 1854 / Upside: 20% / Period: 12 Months
HCLTech Ltd.'s business mix is relatively more resilient to the adverse macro environment. Even the vertical mix is evenly distributed with individual strengths, while its service lines (cloud + IMS) have been more biased and relevant toward current enterprise spends.
Given its robust capabilities and scale in engineering research and development space, and continued investment to drive digital engineering revenue with strong outsourcing opportunity should provide sustainable and predictable growth going forward we recommend a Buy on the stock.
Pricol - Current market price: Rs 406 / Target price: Rs 508 / Upside: 25% / Period: 12 Months
We believe Pricol Ltd. should grow faster than industry on the back of a premiumization trend - clusters moving from mechanical to digital, underlying two-wheeler demand rebounding after a lull, Actuation Control & Fluid Management Systems segment facing tailwinds in exports and introduction of new products.
Even excluding any impact of new products and acquisitions, we expect margin expansion, a net cash balance sheet and very strong growth together elevating return ratios, buttressing a possible re-rating.
Federal Bank - Current market price: Rs 155 / Target price: Rs 190 /Upside: 22.5% / Period: 12 Months
The Federal Bank Ltd. has been showcasing solid performance, with advance growth of 21% and profit after tax growth of 25.3%YoY. The performance is expected to continue in the foreseeable future, which could lead to a re-rating in the stock and hence we recommend a Buy.
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