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Buy This Mid Cap Stock For Potential Upside Of More Than 25%: Sharekhan
Sharekhan, a leading India brokerage firm, recommended buying a mid-cap stock in the Electric equipment industry in its most recent report. The brokerage firm has suggested buying V-Guard Industries with a target price of Rs. 300.
In the chart, the stock is clearly in an uptrend on the larger time frame and has provided significant upside momentum in previous trading sessions. The stock price has shown a strong reversal from a downtrend, and now it is moving to the upside with good volume.
Outlook of V-Guard Industries company
V-Guard Industries Ltd. (also known as "V-Guard") is a reputable Indian company that produces cutting-edge and unique consumer durables, electronics, and electrical items. It has evolved from being a company whose name was primarily associated with voltage stabilizers in South India to one that provides consumers with a vast selection of carefully crafted goods all over the nation.
The most revenue of the company is from electric segments, around 43%, followed by 30% from electronic segments, and 27% of revenue accounts for Consumer Durables.
Outlook of V-Guard Stock Price
The company's market capitalization is over Rs. 10, 324 Crores with a current market price of Rs. 239. The stock's all-time high price is Rs. 275, and the all-time low is Rs. 181. As per the analysis of the latest report of Sharekhan, the stock is in a good position and can cross its all-time high in the upcoming trading sessions.
Buy Call Of Sharekhan on V-Guard Industries
According to the latest reports of Sharekhan, 'V-Guard Industries Limited (V-Guard) is on the cusp of a high-growth trajectory, as it is deploying multiple levers for the next level of growth. The company is expanding its product portfolio in all divisions to widen its customer and geographical base. The company also intends to increase the contribution of products such as batteries, inverters, and pumps in total revenue. Further, the company focuses on premiumization in fans, leading to higher realization and margins. The company would increase its in-house manufacturing base to 75% in the coming years, leading to more cost competitiveness and efficiency. We expect margins to improve going forward, driven by strong volumes, price increases in key product categories, and deeper penetration into non-South markets. We expect a Revenue/PAT CAGR of ~19%/~22% over FY2022-FY2024E EPS. Hence, we retain Buy on V-Guard with a revised price target (PT) of Rs. 300.'
Investment Theme of Sharekhan
'V-Guard is an established electrical and household goods brand, particularly in south India. Over the years, the company has successfully ramped up its operations and network to become a multi-product company. The company has a strong presence in the southern region. The company is also aggressively expanding in non-south markets and particularly focuses on tier-II and III cities, with immense demand for its products.' Said Sharekhan in its latest reports.
