Broker research reports for stocks which have been upgraded by brokers. Both recommendation upgrades,
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Broker Research reports: latest Upgrades
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HealthCare Global Enterprises' (HCG) Q4 consolidated EBITDA grew by 15% YoY to Rs1.1bn; in line with our estimate. The company's asset-light approach with a focus on partnerships has made its business model more capital efficient and scalable, in our view. We believe the strategic investment by KKR will bring in more operational and financial efficiency. Currently, HCG enjoys 13-14% pre IND AS margin, which is lower than its peers. We expect KKR to drive growth through bed expansion, rationalization of existing assets and scale up of...
We cut our PAT estimates by 15%/6% for FY26E/FY27E as we re-align our depreciation forecast & profitability assumptions for Nodwin and downgrade NAZARA to a HOLD (earlier BUY) with a revised TP of Rs1,241 amid 26% rise in stock price over the last 1 month. NAZARA reported an EBITDA margin of 9.8% (PLe 9.0%) while PAT was impacted by an impairment charge of Rs153mn pertaining to the erstwhile accessories business. We expect sales CAGR of 27.5% over next 2 years led by the recent acquisition of Curve Games with an...
Net advances were at Rs. 131,990cr, a 9.0% YoY growth, supported by increase in housing, retail and wholesale banking advances. GNPA and NNPA ratios deteriorated to 4.7% and 1.3% in Q4FY25 from 3.8% and...
Author: Antu Eapan Thomas - Sr. Research Analyst prompting a downward revision of our revenue estimates for FY26E/FY27E by 3%. However, we value the stock at a P/E of 40x on FY27E EPS and maintain...
Management guided for revenue growth of 20% YoY with 150bps improvement in EBITDA margin in FY26. We revised our FY26/27E EPS by -3.4%/-3.6%, factoring in deferred orders and execution delays. BEML reported a strong quarter, with revenue growing 9.2% YoY and EBITDA margin improving by 110 basis points, supported by better material cost management and increased defence contributions. The FY25 order book stood at Rs140bn, below the guided ~Rs180bn due to delays in...
