Brokerage Research Reports share price target

CE Infosystems is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). Company is India's leading provider of advanced digital maps, geospatial software and location-based IoT technologies. Having pioneered digital mapping in India in 1995, company have earned its market leadership position in this industry and built a strong moat by capitalizing on company's...

We are bullish on paint sector despite (i) worst inflation that the industry faced since last 4 decades (ii) new players announcing aggressive capex (iii) valuation concerns due to rally in stock price. In this report, we present our observations on paint sector by studying data of last 26 years. Broadly, we expect paint sector to drive outperformance in revenue growth led by penetration, market share gains and new categories (waterproofing, adhesives etc). We expect gross margin and valuation multiples to sustain driven by pricing-power and fast growth opportunities. We recommend BUY on APNT (revised TP Rs 3,756, valued at 70x FY24E EPS) and BRGR...

Anand Rathi Wealth Ltd is one of the leading non-bank wealth solutions firms in India and have been ranked amongst one of the three largest non-bank mutual fund distributors in India by gross...

In the PV space, market leader Maruti Suzuki (MSIL) reported flattish performance MoM at 1.36 lakh units with company guiding for production at ~80-85% of normal levels for December 2021 vs. ~85% in November. M&M's volumes declined by 3.3% to 19,458 units while Tata Motors' decline stood at 12.3% to 29,947 units (EV sales up 10.4% MoM to 1,715 units). In the CV segment, Market leader Tata Motors (TML) reported volumes of 32,245 units, down 4.2% MoM. Ashok Leyland posted 5.4% decline to 10,480 units while M&M posted flattish volumes at 14,979 units. VECV...

Affordable housing is not about box-sized, budget homes in far-flung places, where there is no connectivity to work places and little surrounding infrastructure. Affordable housing has to be able to cut across all income segments and has to make economic sense in terms of proximity to work place. The agenda for affordable housing requires a combined publicprivate collaboration and a strong political will to enforce change Excerpts from Deepak...

We initiate coverage on Refractories, riding on the current boom in the steel industry. Heavy financial stimulus for infrastructure projects - domestic and global is expected to keep demand for refractories robust in the near future. Historically, refractory companies have been steady revenue compounder with stable margins, net cash balance sheets and superior return ratios, a remarkable contrast to its customer steel sector, thereby largely obviating the severe cyclicity of commodity companies. We expect recycling and localisation to support margins for refractory players. We initiate on IFGL Refractories and RHI Magnesita India (RHIM) with a BUY rating with IFGL being our preferred pick....

Sequential Recovery Continues