outperformers: Adani Enterprises, ONGC among 13 stocks on which Jefferies initiated coverage this year - Outperforming Rockstars
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Outperforming Rockstars
Jefferies has initiated coverage on 13 Indian stocks in the calendar year 2024 so far, taking its total coverage universe to 188 with a combined market cap of US$3.4tr or 70% of India's listed market. The majority of the 13 covered stocks have been strong outperformers relative to the benchmark index. Here’s the list of 13 stocks in which Jefferies has initiated coverage:
ETMarkets.com
Over FY24-27E, The brokerage firm believes that network expansion and growing client vintage should drive 25% CAGR in active AUM of wealth business. Jefferies initiated a ‘buy’ on 360 Wealth with a target price of Rs 900.
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A ‘buy’ rating and a target of Rs 3,800 is foreseeable as he company is riding on the strong Industry tailwinds in New Energy/sustainability, Airports, Infra, digitalisation, and import substitution in India.
Reuters
The global brokerage firm sees Bharti Hexacom as the best play in the telecom industry. With an upside potential of 12%, the stock has a ‘buy’ rating, with a target of Rs 1,080.
Agencies
The company is a leading private sector player in defence and aerospace electronic solutions. Jefferies has a ‘buy’ rating and a price target of Rs 3,545 for the stock.
Over FY24-26E, an estimate of 44% revenue CAGR and an 8x increase in adjusted PAT is expected as economies of scale kick in. The target for the stock is Rs 1,510 with a ‘buy’ view.
AP
Medium-term 22% EPS CAGR visibility in FY24E-30E is a key driver of Jefferies setting a target price of Rs 3,900 for the stock.
ETMarkets.com
A fall in the rates should help the bank more than peers. Ability to raise capital will be the key.The stock has a ‘buy’ rating with target price of Rs 100, a potential upside of 29%.
Agencies
“A strong balance sheet and investments in SaaS could drive the next leg of growth for IndiaMart,” said Jefferies while initiating a ‘buy’ view with a target of Rs 3,400.
Reuters
Jeffries initiated coverage on Kaynes with a ‘hold’ view on the stock with a target price of Rs 2,900.
Agencies
“Nuvama's valuation discount is driven by a lower mix of Wealth / ARR, and we expect the steady improvement in business mix to drive re-rating for the stock over the medium term; however, near-term upside can be limited after the recent run-up,” said Jefferies.A ‘buy’ rating with a target of Rs 6,000 has been determined for the stock.
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Augmented by profitable production growth over FY24-26E, the study foresees strong FCF generation and consolidated net debt reduction. The target price of the stock is given at Rs 390 along with a ‘buy’ rating.
Agencies
Jefferies stated that PB Fintech, which operates India's largest online insurance platform, should witness 30% CAGR in premiums over FY25-27E and aided by strong operating leverage in its renewal book, deliver 5x EBITDA growth.It has initiated a ‘buy’ view with a target price of Rs 1,150 on the stock.
Agencies
A ‘buy’ call has been initiated on the stock with a target price of Rs 640 as the brokerage firm believes that Syrma provides a favorable risk-reward for the investors.
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Benchmark indices Sensex and Nifty ended the week on a bearish note, closing over a percent lower each as a deepening selloff in IT stocks rattled investor sentiment amid mounting fears of AI-led disruption. Further, stronger-than-expected jobs data for January dampened hopes of a US Fed interest rate cut. Here are 7 factors that could decide market action in the coming week: 1.) Infosys, Wipro ADRs rebound - After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 3% while Wipro gained 4%—helping both stocks close the week on a far stronger note. International brokerage firm JP Morgan has a message for panic-stricken investors: IT services firms are the indispensable "plumbers of the tech world" and their dividend yields have now hit levels last seen only during ...
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Waaree Energies shares will be in focus on Wednesday after the solar panel maker reported a strong Q4 performance, with net profit rising 34.1% year-on-year (YoY) to Rs 618.9 crore for the quarter ended March 31, 2025. In the same quarter last year, the company had reported a profit of Rs 461.5 crore. Revenue from operations jumped 36.4% to Rs 4,003.9 crore, up from Rs 2,935.8 crore in the year-ago period, according to the company’s regulatory filing. EBITDA more than doubled to Rs 922.6 crore in Q4 FY25, up 120.6% from Rs 418.3 crore in the same quarter last year. The EBITDA margin improved to 23% from 14.3% a year ago. The company produced 2.06 GW of solar modules in the fourth quarter, up from 1.35 GW in the same period last year. For the full year, module production reached 7.13 GW, compared to 4.77 GW in FY24. For the full financial year FY25, revenue rose 27.62% YoY to Rs 14,846.06 crore. Profit after tax more than doubled to Rs 1,9...
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