Adani Energy Solutions Ltd., Birlasoft Ltd. and Godrej Properties Ltd. were among the top companies on brokerages’ radar on Wednesday.

Godrej Properties, Indegene and Birlasoft have received fresh initiation from brokerages, who have made observations regarding their business fundamentals.

Two Adani Group companies have their ‘buy’ ratings retained by prominent brokerages.

NDTV Profit tracks what analysts are saying about various stocks and sectors. Here are the analyst calls to keep an eye out for today.

Nomura On Godrej Properties

  • Initiated ‘reduce’ with a target price of Rs 1,900.

  • Expects pre-sales momentum to be weaker than estimates.

  • Volume-driven strategy poses risks of further equity dilution and execution challenges.

  • Valuation appears stretched.

Jefferies On Adani Green Energy

  • Maintained ‘buy’ with a target price of Rs 1,300.

  • Accelerating capacity addition pace.

  • Valuations are at a 60% discount to their January 2023 peak one-year forward EV/Ebitda.

  • This creates room for upside on execution.

  • Journey to raise capacity 3.5 times from 14 GW to 50 GW by 2030, with improving net debt: Ebitda trends, remains underway.

Antique On Birlasoft

  • Initiated ‘hold’ with a target price of Rs 450.

  • Expects a gradual turnaround.

  • Muted FY25; expects growth to pick up from the second half.

  • Focus on growth over margins in the near term.

  • After muted bookings in FY25; TCV momentum is expected to improve.

Jefferies On Adani Energy Solutions

  • Maintained ‘buy’ with a target price of Rs 1,150.

  • The company is locked-in for double-digit medium-term growth.

  • The company has Rs 61,600 crore transmission projects on hand, up 3.6 times YoY.

  • Distribution growth is steady in Mumbai, with Mundra having the potential to offer upside.

  • Smart meters are seeing progress in commissioning, which is a key growth driver going forward.

  • Valuation is at a 79% discount to its January 2023 peak one-year forward EV/Ebitda.

  • Ebitda delivery should drive upside.

Jefferies On Consumer Staples

  • Sees gradual improvement in some of the issues — demand, margin, etc.

  • Several stocks factor in these risks, according to the brokerage.

  • Sees limited downside but a meaningful upside in case of a turn.

  • Varun Beverages, HUL and Asian Paints appear as the best contra 12-month ideas.

  • Asian Paints – Upgraded to ‘buy’ from ‘underperform’ and hiked target price to Rs 2,830 from Rs 2,000.

  • Varun Beverages – Maintained ‘buy’; cut target price to Rs 560 from Rs 650.

  • HUL – Maintained ‘buy’ with target price of Rs 2,950.

JPMorgan On Metal

  • Q1: Ferrous stocks to fare better versus aluminum producers.

  • Steel: Steelmakers could see sequential Ebitda growth, led by higher steel prices and lower coking coal costs.

  • Aluminum: Hindalco and Vedanta should post QoQ Ebitda contraction due to lower LME prices.

  • Mining: NMDC’s Q1 performance is likely to be better than coal.

B&K On Indegene

  • Initiated ‘hold’ with a target price of Rs 648.

  • Building an outsourcing giant.

  • Organic scaling with judicious and tactical acquisitions.

  • Competitors are plenty, but the niche is critical.

  • Expects revenue, Ebitda and profit CAGR of 11%, 14% and 16%, respectively, over medium term.

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