Stocks to buy: IndiGo, Adani Ports, Jindal Steel among 5 stocks that can rise 12-53% in next 1 year, say brokerages
₹3,953 from ₹3,774 earlier. According to the brokerage firm, a likely duopolistic industry structure dominated by IndiGo and Air India bodes well for the company. This is expected to spur pricing discipline which in turn may drive yields up over the long term.
"Aggressive capacity addition and robust demand should drive PAX (the number of passengers carried by an airline) growth," Nuvama said. Also Read: Nifty 50, other indices rejig tomorrow: Shriram Finance, HDFC Bank, Jio Finance, Adani Power to see highest inflows Nuvama pointed out that during FY10–14, JSPL recorded an average EBITDA/t of ₹14,900, courtesy of captive thermal coal. Post-de-allocation of coal mines, its earnings got hit and it posted an average EBITDA/t of nearly ₹11,000 over FY15–21.
The brokerage firm expects with the resumption of captive coal mines and other cost-saving and value-additive facilities, JSPL may sustain EBITDA/t of ₹15,000-plus FY25 onwards despite no improvement in steel prices. "The 19 per cent steel volume CAGR, improvement in product mix with the commissioning of HSM (hot strip mills), and benefits of captive coal and pellets along with a slurry pipeline/conveyor belt would aid EBITDA CAGR of 31 per cent over FY24–26E," said Nuvama. Also Read: Stocks to buy: Mahanagar Gas, Va Tech Wabag, Aditya Birla Sun Life, among six fundamental stock picks by HDFC Securities The brokerage firm has initiated coverage on PG Electroplast with a buy recommendation.
"Our target PE (price-to-earnings ratio) multiple is 27 on FY26E (Amber currently trades at PE of 31 times on FY26E). Over the next two to three years, we expect PG Electroplast to gain market share in ACs (air conditioning) and WMs (washing machines). Also, with entry into new
. Read more on livemint.com
