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Top Picks 2023: Motilal Oswal Recommends 3 Best Buy Showing Good Return Potential
Leading brokerage firm Motilal Oswal has recommended investors to buy 3 stocks that can fetch maximum 29% return. These stocks are Can Fin Homes and NMDC Ltd, and Samvardhana Motherson International Ltd. Check key takeaways below:
1. Buy Samvardhana Motherson
The last trading price of the stock is Rs 66 apiece and Motilal Oswal has suggested to buy the stock with a target price of Rs 95 apiece.
If you buy Samvardhana Motherson now, you can fetch potential 44% return. The stock has given 13% return in last 3-months.
According to the brokerage, "We believe the worst is behind and operating performance should start recovering, led by improving supply-side issues and stable costs. With large part of investments already done, improving operating performance would drive down financial gearing as well. Buy with TP of INR95 (Sep-24 based SOTP)."
2. Buy Can Fin Homes
The last trading price of Can Fin Homes is Rs 488 apiece. Its 52-week high is quoted at Rs 685 apiece and 52-week low is quoted at Rs 408 apiece, respectively.
The analyst has suggested investors to buy Can Fin Homes Ltd keeping the target price at Rs 630 apiece and a likely return of 29%. The NBFC sector stock has surged 23% in last 3-years.
As per Motilal Oswal, "For a RoA/RoE of 1.9%/17% in FY24E and triggers for valuation re-rating if the new management team (of MD&CEO/CFO/CRO) can gain investor confidence, we reiterate our BUY rating with a TP of INR630 (based on 1.8x Sep'24 P/BV)."
Like LICHF, CANF is able to highly lever its balance sheet, aided by the underlying parentage of Canara Bank. While the average leverage has steadily declined, it has been hovering between 8.8x-10.1x over the last three years, thereby, allowing it to deliver consistently healthy RoEs, added the analyst.
3. Buy NMDC Ltd
The last trading price of NMDC Ltd is Rs 111 apiece with 52-week high quoted at Rs 143 apiece and 52-week low quoted at Rs 81 apiece, respectively.
The analyst has suggested investors to buy NMDC Ltd keeping the target price at Rs 138 apiece to get potential return of 24%.
The company has a market capitalisation of Rs 32,676 crore. The large cap stock has fallen 17% in last 5-years and again 17% in last 1-year.
According to Motilal Oswal, "We expect NMDC to continue with volume CAGR of 11.5% from FY21-25 on the back of higher volumes in both Chhattisgarh and Karnataka. We expect NMDC back of higher volumes in both Chhattisgarh and Karnataka. We expect NMDC to clock a record 51mt in FY25. We build a DPS of INR 12 for FY24 and INR 10 for FY25, implying a payout of 59- 61% and an attractive dividend yield of 9.5%/7.9% for FY24/25, respectively. We reiterate our BUY rating with a revised TP of INR 138 (v/s 134 earlier)."
Disclaimer
The stocks have been picked from the brokerage report of Motilal Oswal. 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.
