| Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 06 May 2025 | Gravita |
ICICI Securities Limited
|
2051.90 | 2670.00 | 1870.80 (9.68%) | 30.12 |
Buy
|
Good showing; sticking to growth plan
ICICI Securities Limited
Gravita India’s (GRAV) performance was in line with our estimates. EBITDA (including hedging gains) was up 22% YoY at INR 1.06bn. EBITDA margin (adj.) was up 20bps YoY (30bps QoQ) at 10.3%. Lead sales volume rose 12.3% YoY at 45.6kt.
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| 06 May 2025 | Nuvoco Vistas |
ICICI Securities Limited
|
358.45 | 360.00 | 342.75 (4.58%) | Target met |
Hold
|
Debt cloud lingers, but margins shine through
ICICI Securities Limited
Q4FY25 turned out to be a dream quarter for Nuvoco Vistas Corp (Nuvoco) with an all-time high EBITDA (up 12% YoY), being 24% ahead of our estimate (driven by beat across realisation and cost); and net debt retreated further to INR 36.4bn (down ~INR 4bn YoY).
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| 06 May 2025 | LTIMindtree |
Geojit BNP Paribas
|
5033.80 | 4960.00 | 4536.60 (10.96%) | Target met |
Hold
|
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| 06 May 2025 | Coforge |
IDBI Capital
|
8266.00 | 8722.00 | 7426.00 (11.31%) | 5.52 |
Buy
|
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| 06 May 2025 | V-Mart Retail |
Axis Direct
|
3425.30 | 3760.00 | 3212.30 (6.63%) | 9.77 |
Buy
|
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| 06 May 2025 | Indian Hotels Company |
Axis Direct
|
773.10 | 900.00 | 753.25 (2.64%) | 16.41 |
Buy
|
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| 06 May 2025 | Gravita |
Axis Direct
|
2051.90 | 2600.00 | 1870.80 (9.68%) | 26.71 |
Buy
|
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| 06 May 2025 | Voltamp Transformers |
Emkay
|
8397.00 | 11350.00 | 8194.50 (2.47%) | 35.17 |
Buy
|
Strong player in distribution space; retain with lower TP
Emkay
We maintain BUY on Voltamp Transformers (VAMP) while cutting our TP by ~15% to Rs11,350 (upside: 39%) from Rs13,350 earlier. VAMP’s Q4FY25 results were ahead of estimates due to higher than estimated volume and realization.
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| 06 May 2025 | Ethos |
Emkay
|
2763.10 | 3300.00 | 2476.40 (11.58%) | 19.43 |
Buy
|
In-line, strong Q4; WC increase key monitorable
Emkay
Ethos’s Q4 EBITDA is in-line, with margin up by 80bps offsetting the 6% miss on revenue. Despite this, revenue growth was a decent 23%/25% in Q4/FY25, led by SSG of 17.4% in FY25 and by new store additions.
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| 05 May 2025 | Mahindra & Mahindra |
ICICI Securities Limited
|
3090.70 | 3500.00 | 3021.50 (2.29%) | 13.24 |
Buy
|
Robust performance; strong growth outlook intact
ICICI Securities Limited
Mahindra & Mahindra’s (M&M) EBITDA margin, at 14.9%, was up ~30bps QoQ (I-Sec est.: 14.3%). Beat in margin was led by FES segment with EBIT margin up 130bps QoQ to 19.4% (I-Sec est.: 17.3%). Auto segment’s EBIT margin was down 50bps QoQ at 9.2%, in-line with our estimate.
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