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CLSA has initiated coverage of Hyundai Motor India with an ‘outperform’ rating and a target price of Rs 2,155 (+22%). Analysts feel the cars that the company sells in India are aspirational yet affordable. Although the company is going through a period of low growth amidst elevated utilisation, they expect its loss of market share is set to end with the new plant in Talegaon coming online.
Bernstein has an ‘outperform’ recommendation on Avenue Supermarts (DMart) with a target price of Rs 5,800 (+65%). Analysts feel amid low expectations, the retailing major has delivered positive numbers in the previous quarter. They expect limited same-store sales growth improvement further over the next 1-2 quarters.
CITI has a ‘buy’ recommendation on Divis Laboratories with a target price of Rs 6,850 (+20%). Analysts feel a recent US court ruling removes an overhang on the stock. Also recent export trends suggest third quarter revenue may remain flattish but margins may expand on a quarterly basis.
Morgan Stanley has upgraded Aditya Birla Capital to ‘overweight’ rating from equal weight earlier with a target price of Rs 247 (+45%). Analysts believe it enjoys a strong funding access due to its parentage and over the years has managed asset quality reasonably well.
Elara Securities has initiated its coverage of Vishal Mega Mart with a ‘buy’ rating and a target price of Rs 140 (+35%). Calling the company a ‘mass market maven’, analysts feel that through continuous process improvements, Vishal Mega Mart is an efficiently managed business that is outperforming peers on both operational and financial metrics. Its performance is comparable with market leaders such as DMart and Trent, positioning it well for aggressive expansion.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerages and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
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