ICICI Securities has a ‘buy’ rating on Akums Drugs & Pharmaceuticals with a target price of Rs 710. Analysts said that the company is aiming for profitable growth ahead. And the company has been able to maintain its CDMO and overall EBITDA margin at 15.5%/12.0% despite its sub-par revenue growth so far in FY25. Further efforts towards curbing losses in API division and new export order (starting CY27) could drive operating leverage and boost margins in coming years.
HDFC Securities Institutional Research maintained its ‘buy’ rating on JSW Steel with an unchanged target price of Rs 1,080. Analysts recently interacted with the management on business outlook. They said the ramp-up of recently commissioned steel capacities across Vijayanagar and BPSL plants has accelerated production and sales should also remain strong. Demand remains strong and prices of flats have improved. Management expects steel prices to benefit from expected implementation of safeguard duty on imports from China and other FTA countries.
Emkay Global Financial Services has maintained its ‘buy’ rating on Bajaj Finserv with a target price of Rs 2,000 after the company on Monday said that it was parting ways with Allianz of Germany in its insurance ventures. Analysts feel the fundamentals of the company would remain unchanged after the split. They feel this deal does not change anything for Bajaj’s life and general insurance businesses. Removal of the overhang about Allianz’s future in this JV can be looked as sentimentally positive.
Yes Securities has initiated its coverage on Va Tech Wabag with a ‘buy’ recommendation and a target price of Rs 1,750. Analysts feel the company is well positioned to capitalize on robust growth in India and the Middle East, has an order book of Rs 14,300 crore which provides revenue visibility for the next 3-4 years, the company’s margins are expected to improve towards the top end of 13-15% guidance by FY27, and its technological leadership with high bid-hit ratio.
JM Financial has initiated coverage of value retailer Baazar Style Retail with a ‘buy’ rating and a target price of Rs 400. Analysts believe Style Baazar, the brand name under which the company operates, is a leading value fashion retailer with a strong presence in Eastern India, with over 75% of its stores located in Tier 2/3/4 towns. They expect the company to be consistent in its execution, improve its profitability and also shorter working capital days can lead to further re-rating of the stock.