Jefferies has a ‘buy’ recommendation on Reliance Industries with a target price of Rs 1,690 (+36%). Analysts feel RIL’s recent underperformance in CY24 was due to concerns around the medium-term growth prospect of retail and lower earnings growth in FY25. Analysts see restoration of mid-teens growth in retail, likely listing of Jio and improvement in oil-to-consumer profitability in FY26.
Elara Capital has an ‘accumulate’ recommendation on Nuvoco Vistas Corp with a target price of Rs 383 (+8%). Analysts believe growth prospects of the cement producer have improved and reduced geographical concentration risks will have a positive impact on its valuation multiples. Its acquisition of Vadraj Cement is likely to become earnings-accretive by FY29.
Yes Securities has given a ‘buy’ recommendation on Star Health & Allied Insurance with a target price of Rs 599 (+25%). Analysts feel with the largest agent network in the sector and strong distribution capabilities, Star Health is poised to benefit from India’s growing health insurance market. Its focus on indemnity products, strong customer loyalty, and plans to double FY24 premiums by FY28 highlight its growth potential.
Prabhudas Lilladher has maintained its ‘buy’ recommendation on IndusInd Bank but with a reduced target price of Rs 1,500 (+52%). Analysts said their recent interactions with the bank’s management suggested that MFI stress is likely to be recognized by March 2025. Its focus is on diversification in vehicles and MFI, which together contribute ~35% to loans. While the bank may face near-term headwinds, the medium-term story is intact.
Nuvama Institutional Equities has a ‘buy’ recommendation on Macrotech Developers (Lodha) with a price target of Rs 1,749 (+27%). Analysts said that the company’s pre-sales and collections recently touched new peaks. The company now looks set to beat its guidance of 20% YoY growth in FY25.
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