Stocks To Hold: Axis Securities Assigns Hold Rating To Small Cap, Mid Cap Stocks

Axis Securities has assigned hold rating to two stocks namely VIP Industries and Gland Pharma. Gland Pharma is a small cap company that came into existence in 1978. It operates in Pharmaceuticals sector. Meanwhile, VIP Industries is a mid-cap company that was incorporated in 1968. It operates in Plastic sector. Check key takeaways below:

1. Gland Pharma

Axis Securities has assigned hold call to Gland Pharma Ltd with a target price of Rs 2100 apiece.

According to Axis Securities, "Injectable companies (HIKMA, HOSIPORA, and Aurobindo) in the US market sales grew by ~4% YoY, we expect similar growth for GLAND in core markets over a longer period and high double digits growth in India &RoW. FY23 seems to be flat revenue growth due to increased competition and moderation demand for GLAND, therefore we recommend "HOLD" with TP of Rs 2,1oo."

The current market price of Gland Pharma is Rs 1872 apiece with 52-week high is Rs 4060 and 52-week low is Rs 1842 apiece, respectively. The company has a market capitalisation of Rs 30,843 crore. The stock has declined 48% in last 1 year.

2. VIP Industries Ltd

Axis Securities has assigned hold rating to VIP Industries with a target price of Rs 750 apiece. According to the analyst, we value the stock at 40x FY24E EPS with a revised TP of Rs 750/share." The stock has given a return of 152% in last 5-years, 45% in last 3-years, and 32% in last 1-year.

The current market price of VIP industries is Rs 704 apiece with 52-week high at Rs 774 apiece and 52-week low at Rs 494 apiece, respectively. It has a market capitalisation of Rs 9980 crore.

Disclaimer

The stocks have been picked from the brokerage report of Axis Securities. 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.