Stocks on analysts’ radar can give returns of 23-50%

ET looks at some of the latest stock recommendations by analysts. These stocks are expected to return between 23% and 50% as per analysts’ price targets.

INDOCO REMEDIES
Brokerage: SMIFS
Price Target: Rs 469 | CMP: Rs 380 | Upside: 23%

• Attractive investment proposition led by diversified business, a strong product mix, high return ratios
• 54% of revenues from local branded generic markets with long-term earnings visibility
• US business scaling up fast, driving operating leverage benefits
• At 16 times FY24 estimated PE ratio, Indoco trades at a discount to peers

DWARIKESH SUGAR
Brokerage: Elara Capital
Price Target: Rs 145 | CMP: Rs 96 | Upside: 49.5%

• One of India’s most-efficient sugar manufacturer; continues to scale up its ethanol business
• Ethanol volume compounded growth estimated at 25% over FY22-FY25
• Government mandate to achieve 25% blending by EY25 to boost capacity utilisation
• Triggers would be increasing cane crushing volume and improving sugar recovery rate

POONAWALLA FINCORP
Brokerage: Motilal Oswal
Price Target: Rs 350 | CMP: Rs 281 | Upside: 24%

• Initiate with ‘buy’ rating; a ‘valued’ non-banking finance franchise in the making
• Focus on consumer and small business finance augurs well
• Has foundation for sustainable profitability

GUJARAT FLUOROCHEMICALS
Brokerage: ICICI Securities
Price Target: Rs 4,270 | CMP: Rs 3,027 | Upside: 41%

• Recent sharp stock correction a good entry point; top pick in specialty chemical sector
• New fluoropolymers capex will immediately help in growing profits in FY23-24
• At 19.5 times FY24 estimated PE ratio, most affordable India fluorine player by valuations