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Indraprastha Gas: HDFC Securities' Harshad Katkar and team are bullish on this gas distribution company, citing its 1) robust volume growth, led by its quasi-monopolistic position in Delhi/NCR with regulatory support in the form of prioritised gas allocation and 2) a portfolio of mature, semi-mature and new geographical areas. The buy call comes with a 17%+ upside on a target price of Rs. 603.
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Orient Cement: Axis Direct analysts are covering Orient Cement for the first time with an aggressive buy call of Rs. 180, an upside of 30%+. Axis analyst Uttam Kumar Srimal notes that OCL is expanding its cement grinding capacity by 44% from the present 8.0 million tonnes per annum (mntpa) to 11.5 mntpa. "We expect OCL to strengthen its presence in the existing markets and gain market share in light of capacity debottlenecking, upcoming grinding and clinker capacity addition, operating efficiency measures," Srimal writes, "and focus on increasing share of premium cement sales."
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Greaves Cotton: The focus on its EV product mix is likely to benefit this engine company, according to ICICI Securities analysts Chirag Shah and Amit Anwani. Their buy call comes with a 24%+ estimated upside. "The revision in the government's FAME (II) policy, which increases the subsidy by 50% per KWh, is likely to accelerate electric two-wheelers sales for Ampere Vehicles, a subsidiary of Greaves Cotton," they write, "Electric mobility may provide Greaves Cotton a much need growth uptick amid languishing auto engine volumes."
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NTPC: Geojit is bullish on this power generation company, with analyst Sheen G estimating a 20%+ upside: "Management revised its capacity target upward for longer-term renewable energy (RE) from 32GW to 60GW by 2023, implying significant RE capacity addition over the next 11 years." Recovery is on the cards despite recent weak performance, Geojit says, "Gradual recovery in demand will support company’s topline."
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KEI Industries: Prabhudas Lilladhar analysts Paarth Gala and Amnish Aggarwal are upbeat on this wire company's prospects, with an estimated upside of 16%+. "We believe KEI is a compelling play on growing demand for wires & cables arising from Infrastructure, Industrial activity, Railway electrification and housing construction activity," they write, "Within the institutional segment, KEI enjoys a market share of 12-15% and is focused on maintaining its momentum by enhancing capacities to meet rising demand."
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