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Sharekhan Optimistic On 2 Large, Mid Cap Stocks, Buy To Receive 38% Return
Sharekhan has recommended investors to buy 2 stocks for higher return in 2023. These stocks are Britannia Industries and Greaves Cotton Ltd. If you buy the shares of Britannia Industries and Greaves Cotton, you will get maximum 38% return. Check key takeaways below:
1. Buy Greaves Cotton
Sharekhan has given buy call to Greaves Cotton with a target price of Rs 183 apiece. The current market price of Greaves Cotton is Rs 133 apiece and if you buy Greaves Cotton now, you can get potential 38% return.
The stock's 52-week high is Rs 258 apiece and 52-week low is Rs 124 apiece, respectively. The company has a market capitalisation of Rs 3091 crore. The stock has fallen 10% in last 3-months and gained nearly 2% in last 3-years.
According to Sharekhan, "We expect the financial performance of the e-mobility business to strengthen going forward, driven by increasing contribution of high-speed e-2Ws, increasing retail penetration, and new launches. The stock trades at a P/E multiple of 21.2x and EV/EBITDA multiple of 9.1x its FY2024E estimates. Thus, we reiterate our Buy rating on the stock with a 12-month PT of Rs.183."
Key Risks: The company's performance can be impacted adversely if commodity prices start to rise again in the near term. With larger players getting aggressive in the EV space, competition is expected to intensify, which may affect the company's profitability in the medium term.
2. Buy Britannia Industries
Sharekhan is positive on Britannia Industries and has assigned buy call to the stock with a target price of Rs 5060 apiece. The current market price of the stock is Rs 4385 apiece and if you buy Britannia Industries shares at this price, you are set to receive 15% return.
The stock's 52-week high is Rs 4535 apiece and 52-week low is Rs 3050 apiece, respectively. The large cap company has a market capitalisation of Rs 1,05,632.79 crore. The stock has given 14% return in 3-months, 24% in last 1-year, 44% in last 3-years, and 88% in last 5-years.
According to the analyst, "With sustained market share gains, new product launches, and higher traction on new channels (including e-commerce), we expect Britannia's core biscuit category to beat the industry's growth in the medium term. This along with scale-up in the revenue of adjacent categories and efficiencies would help Britannia achieve double-digit earnings growth of 17.2% over FY2022-FY2025E. Britannia is currently trading at 59x/50.7x/43.1x its FY2023/FY2024E/FY2025E EPS. We maintain our Buy recommendation on the stock with a revised price target (PT) of Rs. 5,060 over the next 12 months."
Key Risks: Any sustained slowdown in the key category and spike in key input prices would act as a key risk to our earnings estimates.
Disclaimer
The stock has been picked from the brokerage report of Sharekhan. 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 check with certified experts before taking any investment decision.
