Midcap Stock Trading 6.63% Above 52 Week Low, Emkay Global Sees 56% Upside, Suggests Buy

Emkay Global, a leading brokerage firm has assigned a "Buy" on Piramal Enterprises Ltd, a midcap Piramal group stock. The brokerage has given a buy on the stock with a target price of Rs 1,300 apiece, implying a potential upside of up to 56% from its current market price. It is a midcap stock with a market capitalisation of Rs 19,953.48 crore. Below are key highlights from the stock:

Piramal Enterprises Stock Overview and Return

The stock of Piramal Enterprises last traded at Rs 837.10 apiece on NSE. It opened at Rs 848.90 apiece, while the previous close was 844.05 apiece. It is currently trading 6.63% up from its 52 week low. Its 52 week low of stock is Rs 785.05 apiece as on 26 December 2022 and its 52-week high is Rs 2,528.90 apiece as on 11 February 2022, respectively.
The stock declined 1.72% in 1 week, however, it gained 3.58% in 1 month. In 3 months it declined by 5.82%. In 1 year it declined 66.06%. In the past 3 years, it declined 47.7%. In the past 5 years, it declined 68.22%.

Emkay Global Suggests "Buy" the Piramal Enterprises with Rs 1,300 target price

Emkay Global said, "We roll over our estimates to Mar-24 and retain our BUY rating, with Mar-24E TP of Rs1,300/share (earlier Rs1,200), using the SOTP-methodology for valuation: i) the financial services business using the Excess Return on Equity (ERE) method for a per share value of Rs1,065, implying 1.0x of Mar-25E BVPS; ii) investments in Shriram Finance based on current market capitalization for Shriram Finance, post holdco discount, at Rs138 per share; iii) investments in the AIF and Insurance at allocated equity book value of Rs45 and Rs60 per share, respectively."

Key risk: more forward-flows from the Wholesale 1.0 pool remain the key risk to our forecasts.

Disclaimer
The stock has been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.

Emkay Global Suggests "Buy" the Piramal Enterprises with Rs 1,300 target price

Emkay Global said, "We roll over our estimates to Mar-24 and retain our BUY rating, with Mar-24E TP of Rs1,300/share (earlier Rs1,200), using the SOTP-methodology for valuation: i) the financial services business using the Excess Return on Equity (ERE) method for a per share value of Rs1,065, implying 1.0x of Mar-25E BVPS; ii) investments in Shriram Finance based on current market capitalization for Shriram Finance, post holdco discount, at Rs138 per share; iii) investments in the AIF and Insurance at allocated equity book value of Rs45 and Rs60 per share, respectively."

Key risk: more forward-flows from the Wholesale 1.0 pool remain the key risk to our forecasts.

Disclaimer

The stock has been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.