Hdfc Bank

The brokerage in its report stated that any dips should be used to build a long-term portfolio of quality companies that have lean balance sheets and are ...

The target price for the stock is ₹435. The target price for the stock is ₹1,920. The management reported a ₹5,000 crore order proposal pipeline for FY24 and stated that the current order book is at ₹4,000 crores. The target price for the stock is ₹3,300. "The company expects to bag another ₹1,000 crore order in Q4YF23E that gives medium term revenue visibility. The management's forecast for revenue growth over the next two years is still optimistic at 15-20%, with margin levels expected to increase due to softer material prices, increased operating leverage, and backward integration. As a result, the brokerage expects advance growth to increase by 18% CAGR in FY24–25E. We have valued Adani Ports and Special Economic Zone on sum-of-the-parts valuation (SOTP) basis with a target price of ₹800," said the brokerage. Thus, strong retail execution, steady credit cost and improving efficiency should drive RoE at 10-12% in FY24-25E and thus valuation," said the brokerage. The Adani Group company is enhancing its capabilities across all logistics segments as it sets out to become India's biggest integrated transport utility business by 2030. The brokerage is positive on sectors like capital goods, auto, infrastructure and banks. "Over the past five years, the company has lost its market share to other large players with no major new capacities coming in place during this period.