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Brokerages raise target for these 5 stocks, do you own any?

The Nifty formed a long bearish candle that resembled a Bearish Engulfing pattern on the daily charts on March 12 and a Gravestone Doji formation on the weekly scale. The BSE smallcap index added over a percent, the largecap Index ended marginally higher, while the midcap Index closed flat .

March 13, 2021 / 03:52 PM IST
The market ended higher in the truncated week ended March 12 amid volatility, with the Nifty50 holding above 15,000 level, tracking positive global cues. The BSE Sensex jumped 386.76 points or 0.7 percent to close at 50,792.08 and while the Nifty rose 92.85 points or 0.6 percent to finish at 15,030.95. During the week, the Sensex traded in the 51,821.84-50,318.26 range, while the Nifty moved in the 15,336.3-14,919.9 range. On the sectoral front, the Nifty realty index fell 2.3 percent and the Nifty auto index slipped 1.3 percent. The Nifty IT index rose 2.6 percent. During the week, foreign institutional investors (FIIs) bought equities worth Rs 1127.82 crore and domestic institutional investors (DIIs) bought equities worth Rs 1,238.89 crore. Here are five stocks whose target price has been raised by foreign brokerages:
The market ended higher in the truncated week ended March 12 amid volatility, with the Nifty50 holding above 15,000 level, tracking positive global cues. The BSE Sensex jumped 386.76 points or 0.7 percent to close at 50,792.08 and while the Nifty rose 92.85 points or 0.6 percent to finish at 15,030.95. During the week, the Sensex traded in the 51,821.84-50,318.26 range, while the Nifty moved in the 15,336.3-14,919.9 range. On the sectoral front, the Nifty realty index fell 2.3 percent and the Nifty auto index slipped 1.3 percent. The Nifty IT index rose 2.6 percent. During the week, foreign institutional investors (FIIs) bought equities worth Rs 1127.82 crore and domestic institutional investors (DIIs) bought equities worth Rs 1,238.89 crore. Here are five stocks whose target price has been raised by foreign brokerages:
IndusInd Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 1,325 from Rs 1,100. The company reported a transformative journey in the last two years. It has been debulking corporate book & increasing granularity of liabilities. The asset quality hit has been less than expected, while gems portfolio has held up better than the expected. The liability side remains a work in progress. However, the dependence on bulky fee streams has fallen in the last two years, while high-yielding retail assets should support overall profitability, reported CNBC-TV18. IndusInd Bank ended at Rs 1,023.10, down Rs 16.35, or 1.57 percent on March 12. The share touched a 52-week high of Rs 1,119.20 and a 52-week low of Rs 235.60 on 25 February, 2021 and 24 March, 2020, respectively. Currently, it is trading 8.59 percent below its 52-week high and 334.25 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 29.26 per share. (Dec, 2020). The stock's price-to-earnings (P/E) ratio was 34.97. The latest book value of the company is Rs 451.14 per share. At current value, the price-to-book value of the company was 2.27.
IndusInd Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 1,325 from Rs 1,100. The company has had a transformative journey in the last two years. It has been debulking corporate book & increasing granularity of liabilities. The asset quality hit has been less than expected, while gems portfolio has held up better than expected. The liability side remains a work in progress. However, the dependence on bulky fee streams has fallen in the last two years, while high-yielding retail assets should support overall profitability, CNBC-TV18 reported CLSA as saying. IndusInd Bank ended at Rs 1,023.10, down Rs 16.35, or 1.57 percent on March 12. The share touched a 52-week high of Rs 1,119.20 and a 52-week low of Rs 235.60 on February 25, 2021 and March 24, 2020. It is trading 8.59 percent below its 52-week high and 334.25 percent above its 52-week low. The lender's trailing 12-month (TTM) EPS was at Rs 29.26 per share. (Dec 2020). The stock's price-to-earnings (P/E) ratio was 34.97. The latest book value of the company is Rs 451.14 per share. At current value, the price-to-book value of the company was 2.27.
Motherson Sumi Systems | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 285 from Rs 250. CLSA has increased the FY21-23 EPS estimates by 5-8 percent. The change in valuation methodology to incorporate how reorganised companies could be valued in future, reported CNBC-TV18. The share price ended lower by 2.40 percent or Rs 5.25 at Rs 213.75 on the BSE. The share touched a 52-week high of Rs 238.20 and a 52-week low of Rs 48.50 on 03 March, 2021 and 24 March, 2020, respectively. Currently, it is trading 10.26 percent below its 52-week high and 340.72 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 2.10 per share. (Dec, 2020). The stock's price-to-earnings (P/E) ratio was 101.79. The latest book value of the company is Rs 19.77 per share. At current value, the price-to-book value of the company was 10.81. The dividend yield of the company was 0.7 percent.
Motherson Sumi Systems | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 285 from Rs 250. CLSA has increased the FY21-23 EPS estimates by 5-8 percent. The change in valuation methodology incorporates how reorganised companies could be valued in, reported CNBC-TV18. The share price ended lower by 2.40 percent or Rs 5.25 at Rs 213.75 on the BSE. The share touched a 52-week high of Rs 238.20 and a 52-week low of Rs 48.50 on March 3, 2021 and March 24, 2020, respectively. It is trading 10.26 percent below its 52-week high and 340.72 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 2.10 per share (Dec 2020). The stock's price-to-earnings (P/E) ratio was 101.79. The latest book value of the company is Rs 19.77 per share. At the current value, the price-to-book value of the company was 10.81. The dividend yield of the company was 0.7 percent.
Oberoi Realty | Brokerage: CLSA | Rating: Outperform | Target: Raised to Rs 625. The new launches with near-ready projects to drive sales growth of 19% over FY21-23. Broking firm increases sales assumptions for FY21-23 by 7 percent. The upfront revenue recognition leads to an EPS revision, reported CNBC-TV18. On March 12, the share price closed at Rs 558.45, up Rs 22.10, or 4.12 percent on the BSE. The share touched a 52-week high of Rs 635.05 and a 52-week low of Rs 290.10 on 07 January, 2021 and 22 May, 2020, respectively. Currently, it is trading 12.06 percent below its 52-week high and 92.5 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 9.77 per share. (Dec, 2020). The stock's price-to-earnings (P/E) ratio was 57.16. The latest book value of the company is Rs 172.62 per share. At current value, the price-to-book value of the company was 3.24.
Oberoi Realty | Brokerage: CLSA | Rating: Outperform | Target: Raised to Rs 625. New launches with near-ready projects to drive sales growth of 19% over FY21-23. The broking firm increased sales assumptions for FY21-23 by 7 percent. The upfront revenue recognition leads to an EPS revision, CNBC-TV18 reported. On March 12, the share price closed at Rs 558.45, up Rs 22.10, or 4.12 percent on the BSE. The share touched a 52-week high of Rs 635.05 and a 52-week low of Rs 290.10 on January 7, 2021 and May 22, 2020, respectively. It is trading 12.06 percent below its 52-week high and 92.5 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 9.77 per share. (Dec 2020). The stock's price-to-earnings (P/E) ratio was 57.16. The latest book value of the company is Rs 172.62 per share. At the current value, the price-to-book value of the company is 3.24.
Source: Reuters
ONGC | Brokerage: JPMorgan | Rating: Overweight | Target: Raised to Rs 190 from Rs 145. The research house built in $60/bbl brent price versus $50/bbl earlier and raised EPS estimates by 46%/32% for FY22/23. The longer oil prices stay elevated, the larger the consensus of an earnings upgrades likely, reported CNBC-TV18. On March 12, Oil and Natural Gas Corporation rose 0.52 percent to end at Rs 115.05. The share touched a 52-week high of Rs 122.30 and 52-week low of Rs 51.80 on March 8, 2021 and March 13, 2020, respectively. It is trading 5.93 percent below its 52-week high and 122.1 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 1.31 per share. (Dec, 2020). The stock's price-to-earnings (P/E) ratio was 87.82. The latest book value of the company is Rs 154.48 per share. At current value, the price-to-book value of the company is 0.74. The dividend yield was 4.35 percent.
Adani Ports | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 935. The two more acquisitions were at decent valuations. The cash flows remain strong & balancesheet is healthy. The 9MFY21 FCF at Rs 4,240 crore, up 227 percent YoY; FY21 FCF seen at Rs 5,600 crore, reported CNBC-TV18. The extra-ordinary general meeting of the company will be held on April 6, 2021. On March 12, company share was ended at Rs 727.05, down Rs 18.55, or 2.49 percent on the BSE. The share touched a 52-week high of Rs 768.40 and a 52-week low of Rs 203.40 on 08 March, 2021 and 23 March, 2020, respectively. Currently, it is trading 5.38 percent below its 52-week high and 257.45 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 10.36 per share. (Dec, 2020). The stock's price-to-earnings (P/E) ratio was 70.18. The latest book value of the company is Rs 96.95 per share. At current value, the price-to-book value of the company was 7.5. The dividend yield of the company was 0.44 percent.
Adani Ports | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 935. The two new acquisitions were at decent valuations. The cash flows remain strong & the balancesheet is healthy. The 9MFY21 FCF at Rs 4,240 crore, up 227 percent YoY; FY21 FCF seen at Rs 5,600 crore, reported CNBC-TV18. The extraordinary general meeting of the company will be held on April 6, 2021. On March 12, company share ended at Rs 727.05, down Rs 18.55, or 2.49 percent on the BSE. The share touched a 52-week high of Rs 768.40 and a 52-week low of Rs 203.40 on March 8, 2021 and March 23, 2020, respectively. It is trading 5.38 percent below its 52-week high and 257.45 percent above its 52-week low. The company's trailing 12-month (TTM) EPS was at Rs 10.36 per share. (Dec, 2020). The stock's price-to-earnings (P/E) ratio was 70.18. The latest book value of the company is Rs 96.95 per share. At current value, the price-to-book value of the company is 7.5. The dividend yield is 0.44 percent. (Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.)
Rakesh Patil
first published: Mar 13, 2021 01:34 pm

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