Shares of Gulshan Polyols Ltd. hit 5% upper circuit for the second session a row. Over the past two days, the stock has gained 10%. The relative strength index on the stock is at 84, suggesting it may be overbought.
On Wednesday, InCred Equities initiated coverage with a recommendation of ‘add’. The brokerage has set a price target of Rs 898, a implied return of 162%.
InCred Equities
| Initiates coverage with ‘add’ recommendation; price target set at Rs 898, an implied return of 162% |
| Company’s plans to expand distillation capacity is set to turn it into a formidable player in distillation industry. |
| Extra Neutral Alcohol (ENA)/Ethanol production volume will post 200% CAGR over FY22F-24F. |
| Company will have the capacity to meet 4.6% of overall grain-based ethanol demand. |
| Estimates sales volume growth at 53% CAGR over FY21-24F aided by expansion, resulting in Ebitda/PAT CAGR of 54%/68% over FY21-24F, respectively. |
| Estimates RoE to improve from 19% in FY21 to 43% in FY24F. |
Analyst Actions: Infosys, NHPC
| Infosys cut to ‘accumulate’ from ‘buy’ at KR Choksey Shares & Sec Pvt; price target set at Rs 2,094. |
| NHPC raised to ‘add’ from ‘reduce’ at HDFC Securities; price target at Rs 33. |
Aditya Birla Fashion And Retail Acquires 51% Stake In House Of Masaba Lifestyle
- Aditya Birla Fashion and Retail has bought 51% in Masaba Gupta’s eponymous fashion label ‘House of Masaba’ for Rs 90 crore.
- Company said it will strengthen its play into fashion for young and digitally native consumers along with marking a foray into branded beauty and personal care with the acquisition.
Source: Exchange filing
