Monarch Networth Capital recommends buy on SJVN, sees potential upside of 48%; here's why
SJVN with a 'buy' rating, pointing out the stock's capacity to yield strong returns of two to three times over a three- to five-year period. The brokerage believes there is a potential upside of 48% for SJVN stock from the current market price of 84 and has set the target price for SJVN at ₹125.
On Thursday's session, the SJVN share price jumped 6.7% to touch a 52-week high at ₹90.65 apiece on BSE. SJVN share price today opened at ₹84.51.
So far in 2023, SJVN share price has gained 177%. Although there has been a recent re-rating due to expectations of high revenue and earnings per share (EPS) growth in the near future, the brokerage still thinks that SJVN's share price momentum is sustainable because of its expectations of sustained high growth over the medium to long term.
The company is a renewable energy play with strong fundamentals. "Exciting news! Mint is now on WhatsApp Channels
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