1. Affle (India):
Sharekhan maintains a ‘Buy’ rating on this internet software firm with a target price of Rs 1,880, indicating an upside of 18.5%. Affle is a digital advertising company that helps brands reach customers via mobile marketing. Analysts note that while the company has no immediate challenges, it’s cautious about possible US tariff hikes that could affect some clients. The company is streamlining its US operations by merging its business units into one entity, to mitigate currency fluctuations and potential tariff risks.
In 9MFY25, the company’s revenue grew 24% YoY, while net profit rose 32%, driven by a 31.9% rise in revenue from converted users. Affle’s management expects over 20% net profit growth in FY25. They also project EBITDA margins to improve to around 23% in the medium term, up from 19.5% in FY24.
Analysts expect Affle to deliver steady and scalable results through client conversions, driving growth over the medium to long term. They project a revenue CAGR of 23.2% over FY25-27.
2. Titagarh Rail Systems:
Geojit BNP Paribas initiates coverage on this commercial vehicles manufacturer with a target price of Rs 1,050. This indicates a potential upside of 29.6%. The company’s 9MFY25 revenue rose 2% YoY to Rs 2,862 crore. Net profit increased by 6% to Rs 225 crore, helped by stable demand and cost control.
Analyst Sheen highlights that Titagarh Rail has strong revenue visibility, supported by an order book of Rs 25,333 crore. She notes that the company’s newly introduced verticals, signaling and safety systems, along with shipbuilding & maritime systems, are expected to contribute to revenue from FY26. This growth will be driven by increasing demand for advanced rail systems and maritime solutions.
Sheen notes that the medium-term growth prospects for Titagarh Rail are positive, supported by strong demand for passenger wagons, metro projects, and Vande Bharat production. This is backed by significant order inflows and expanding manufacturing capabilities.
3. Suven Pharmaceuticals:
ICICI Securities upgrades its rating to ‘Buy’ on this pharma company with a target price of Rs 1,400. This indicates an upside of 27.9%. In February 2024, PE firm Advent acquired a controlling stake in Suven and merged its entity, Cohance, with the company. Cohance makes cancer medicines and also produces a key ingredient used in cancer treatments. Analysts Abdulkader Puranwala and Nisha Shetty expect that the merger with Cohance will increase Suven’s revenue by 138% and its net profit by 108% in FY25.
In December 2024, Suven acquired a 56% stake in NJ Bio for $100 million. Cohance’s acquisition, along with NJ Bio’s capabilities, gives Suven a market opportunity in the antibody drug conjugates (ADC) sector, which has increased from $200 million to $1.4 billion. The company’s acquisition of Sapala Organics also marks its entry into the genetic medicines market.
Puranwala and Shetty expect the revenue share of the acquired entities to rise to 17% (currently at 10% of FY24 revenue) as the business gains momentum in the coming years. The company’s management aims for $1 billion in revenue by FY30, with plans to scale up to $2 billion by FY35.
4. Equitas Small Finance Bank:
BOB Capital Markets initiates coverage on this bank with a ‘Buy’ rating and a target price of Rs 73. This indicates an upside of 28.9%. Equitas Small Finance Bank’s loan book grew at a 22.5% CAGR between FY20-24. Analysts Niraj Jalan and Vijiya Rao note that the bank has shifted focus towards secured portfolios, with secured loans now making up 85.6% of the total (as of December 2024), up from 76.5% in March 2020.
Equitas plans to reduce its microfinance (MFI) portfolio share to single digits, from 14.4% in December 2024. Jalan and Rao project advances to grow at 21% CAGR from FY25-27, mainly driven by the secured loan portfolio.
In 9MFY25, the bank set aside Rs 340 crore in additional provisions, due to stress in its MFI portfolio and to keep its NNPA below 1%, which impacted profitability. Over the past year, the bank’s stock price has fallen by 38.6%.
5. Brigade Enterprises:
Motilal Oswal reiterates its ‘Buy’ rating on this Bengaluru-based realty company with a target price of Rs 1,415, indicating a potential upside of 44.5%. The company has achieved a 36% CAGR in presales from FY20 to FY24.
Brigade’s management aims to develop 15 million square feet (msf) of projects by FY27. Analysts Abhishek Lodhiya and Yohan Batliwala expect that new launches will enhance the company’s pipeline. They project a 24% CAGR in presales growth by FY27, along with a 10% CAGR in the realization of Rs 10,700 per square foot.
In 9MFY25, Brigade Enterprises launched new projects in Bengaluru and Chennai, along with new phases of existing launches, covering 7.5 msf. The company has added 8 msf of land since January 2025 to its portfolio in YTD FY25 and plans to expand in Kerala and enter the Mysuru market by FY26.
Analysts expect the Bengaluru region to contribute 50-80% of Brigade's presales by FY27, and anticipate that the listing of Brigade Hospitality Portfolio (Brigade Hotel Ventures) will create long-term growth opportunities for the company.
Note: These recommendations are from various analysts and are not recommendations by Trendlyne.
(You can find all analyst picks here)
