Stock market: These 5 stocks may rally up to 30% as brokerages initiate coverage

Global and domestic brokerage firms initiated coverage on several stocks including Avenue Supermarts, JSW Infra, Sula Vineyards, and BEML with a could see an upside of up to 30%. Here’s a look at stocks on which brokerages initiated coverage:

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1. Aptus Value Housing Finance: Bonanza initiated coverage on Aptus Value Housing Finance and put a ‘Buy’ rating setting a target price of ₹400 on the stock. It said, “Aptus appears cyclically well positioned on loan growth, Margins and Asset quality front. Aptus has managed business matrices very tightly, reporting the highest profitability ratio among peers. Stock is trading at 3.8x on its FY25e BVPS which is premium to its peers led by superior return ratios.”
2. ​JSW Infrastructure: Capital Square initiated coverage on JSW Infrastructure with a ‘Buy’ rating and set a target price of ₹306 on the stock indicating an upside potential of 28%. The brokerage said, “We argue for a higher valuation as we believe the stock has a significant potential to rerate on account of strong growth plans of group companies which will assure the optimum capacity utilisation, increasing contribution from third party, expansion plans of JSWIL to achieve 300 MTPA by FY30.” Read more: Zerodha’s Nikhil Kamath says he ‘felt insecure’ about being a school dropout: ‘Parents gave up on me’
3. ​Avenue Supermarts: CLSA initiated coverage on Avenue Supermarts with a ‘Buy’ rating and said, “We believe the long-term opportunity in DMart remains intact, especially with the stock underperforming the broader indices by 45% since it made a peak in November 2021. We initiate coverage with a BUY rating as we believe investor concerns around competition from quick commerce and vertical-brd players are valid but in the price.”
4. ​Motilal Oswal Financial Services: Emkay initiated coverage on Motilal Oswal Financial Services with a ‘Buy’ rating and said, “We initiate coverage on MOFSL with a BUY, as we believe the company is the ideal mode for riding the financial wealth creation journey in India over coming decades.” Read more: Trust Fintech IPO opens on March 26: Check issue size, price band, key dates and more
5. Sula Vineyards: Monarch Networth Capital initiated coverage on Sula Vineyard and set a target price of ₹740 on the stock noting, “We expect Sula to deliver robust revenue growth of ~17% CAGR during FY23-FY27E, primarily fueled by the elite and premium wine segments. Also, we project a commendable ~19% CAGR in EBITDA over the same period, with margins forecast to improve by 240bps.”

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