Shriram Finance Limited, the company in the BFSI sector has advised by Centrum with a Buy price of Rs2,820 with a target price of Rs3,440 indicating about 22% upside for Shriram Finance
Key triggers for Shriram Finance as per Centrum is that Shriram Finance’s Eight hundred branches now offer gold loans, and another 400–500 branches will roll out the program gradually over time . Currently, 400 branches for Shriram Finance offer MSME loans; additional 1,000 branches are anticipated to do the same throughout the following four to six months.
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Tega Industries in the capital Goods space remains Centrum’s pick with Buy Price of Rs1,626 and target price of Rs1,775, indicating 9% upside for Tega Industries
Winning large sized multi-year contracts will be a key trigger for Tega Industries such as recently won ₹680 Crore five year contract from Europe’s largest copper mine.
Triveni Turbine remains another pick of Centrum in the Capital Goods space with a Buy Price at ₹600 and target price at Rs720 indicating about 20% upside for Triveni Turbine.
Further scale up in quarterly order inflows for will enhance revenue visibility for Triveni Turbine as per Centrum. Large sized after-market orders, similar to Rs100 Crore order from SADC, South Africa is another medium term trigger for Triveni Turbine.
Birla Corporation remains another high conviction pick of Centrum in the Cement space with a buy price at Rs1,542 and target price of Rs2,000 indicating close to 30% upside for Birla Corporation
Normalization of cost structure with reduction in startup costs related to Mukutban expansion by Birla Corporation is watched for. A better demand and pricing prospects in Central region especially Uttar Pradesh which is a key state for Birla Corporation with higher market share remains amongst triggers. Positive free cash flow generation and deleveraging over the next 3 years remains a key upside trigger for Birla Corporation as per Centrum
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Asian Paints remains another key high conviction pick in Consumer space by Centrum with a Buy Price at ₹2,895 and target price at Rs3,648 indicating 26% upside for Asian Paints
Asian Paints expected to deliver persistent strong performance with its core strategy to upgrade volumes using innovations in economy/ luxury emulsions, to grow project/institutional business, to expand waterproofing business, to grow rural reach and to gain volume market share as per Centrum Broking. With capex incurred for backward integration of VAM/VAE and white cement along with product diversification and entering into higher margin adjacencies will help Asian Paints to maintain margin said Centrum.
PNC Infratech remains a key pick of Centrum in the Infrastructure spave with a add price of Rs475 for a target price of ₹Rs620 indicating 30% upside for PNC Infratech share price
Key investment rationale remains PNC Infratech’s Sizeable asset portfolio as per Centrum besides strong Orderbook led by recent awards ensuring better visibility in FY26 and Significant cash inflow from asset sale and arbitration claims expected in FY25.
Emudhra remains another pick of Centrum in the internet space with a Add Price of ₹856
Near term triggers for Emudhra include sustained rapid growth of the Enterprise segment in the foreign markets and Long term trigger includes growing adoption of PKI based solutions across industries
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APL Apollo Tubes Limited remains a key pick of Centrum in the metals and Mining space with a buy Price at Rs1,654 and target price at Rs1,761 Key Trigger for APL Apollo Tubes as per Centrum is the faster ramp up of capacity by APL Apollo Tubes
Dr. Lal Pathlabs remains another key pick of Centrum with a Buy Price at ₹2,689 and Target Price of Rs2,800
Investment thesis includes Dr. Lal Pathlabs Expansion into new geographies, Strong volume growth besides string suburban penetration and advantage over new age companies.
Jubilant FoodWorks in the retail space is another key investment pick of Centrum with a buy Price at Rs538 and target price at Rs590
Investement thesis for Jubilant FoodWork includes Domino’s enjoys distinctive competitive advantages. Jubilant FoodWorks strategically consolidated its value accretive international business at opportune time. Further Jubilant FoodWorks rejuvenated approach to drive growth in Dominos’ and chicken QSR segment (Popeyes), coupled with enhanced consumer experience in value segment could achieve positive Like for like growth.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions
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Published: 26 Jun 2024, 12:20 PM IST
