Consumer Durables News

Brokerage firms initiate coverage on 8 stocks; would you buy? – New stocks on radar

Rating: Buy | Target Price: Rs 242-260.5
It has established a market position in manufacturing of super alloys with better operating efficiency. It has a strong track record in signing and executing deals. Sizeable revenue growth and steady operating margin of 27-29 per cent, ensures healthy cash accrual and liquidity and better working capital management despite high inventory, said HDFC Securities.

“Considering the company’s strong financial profile, led by healthy profitability levels and return indicators and a comfortable capital structure, we have a positive view on the stock,” the brokerage said with buy call and a target price of Rs 242 (base case) and Rs 260.5 (bull case) over the next 2 quarters.

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