Jefferies on Cement
Following a growth of less than 10% YoY in October and November 2023, cement demand showed mixed trends in December. Dealers anticipate an uptick in prices starting from the third week of January, driven by the onset of peak construction activities and the positive impact of reduced energy costs on the industry.
MOSL on Dalmia Bharat
MOSL recommends buying shares of Dalmia Bharat with a target price of Rs 2800, highlighting it as a top choice for 2024. The optimism stems from Dalmia Bharat’s plans to expand its capacity to 110-130 million tonnes per annum by 2031, its commitment to sustainable growth strategies, and its robust balance sheet aiming to maintain a net debt-to-EBITDA ratio below 2x.
I SEC on Cello World
I SEC initiates a buy recommendation on Cello World with a target price of Rs 920. Cello World stands out due to its competitive advantages, boasting EBITDA margins and RoCE exceeding 25% and 30%, respectively. The company is expected to capitalize on the industry’s growth rate surpassing 10% annually and the ongoing formalization process, considering that 35% of the market remains unorganized.
Nomura on Fortis Healthcare
Nomura reaffirms a buy rating on Fortis Healthcare, raising the target price to 475. The outlook remains positive, anticipating a consistent enhancement in hospital EBITDA margins in the foreseeable future. The adjusted ARPOB CAGR forecast for FY25-30F has been revised upwards from 4% to 5.8%, reflecting the expectation of continued improvements.
MOSL’s Top Stock Ideas for 2024
For large-cap stocks, MOSL recommends considering investments in Coal India, ITC, State Bank of India, L&T, HCL Tech, Titan, UltraTech Cement, and M&M.
Among mid-cap options, the list includes Ashok Leyland, Godrej Properties, Angel One, Metro Brand, Global Health, PNB Housing, Kirloskar Oil Engine, and Lemon Tree.
Antique QSR Insights
– Favor Devyani & Sapphire foods due to better risk-reward.
– Recommends selling Jubilant FoodWorks.
Nirmal Bang’s Consumer Durables Outlook
– Upholds Buy for Blue Star; new TP at Rs 1100, up from Rs 1015.
– Suggests Accumulate for Voltas; revised TP at Rs 985, previously Rs 880.
