Shivalik Bimetal Controls
BROKERAGE: JM FINANCIAL Price Target: Rs 730 CMP: Rs 588.30 Upside: 24%
- Simultaneous play in switchgear, smart metering and EVs
- Emerged as a monopoly in the domestic market for shunt resistors
- Short-term, soft recovery in global markets could lead to low revenue growth
Ethos
BROKERAGE: EMKAY GLOBAL Price Target: Rs 3,200 CMP: Rs 2,771 Upside: 16%
- Preferred pick in the discretionary space given strong 25% compounded growth potential
- Total addressable market expanding with HNI count growing and potential entry of ultra luxury watch brands
- Low ROCE (Return on Capital Employed) has been a key investor concern
PNB Housing Finance
BROKERAGE: IIFL SECURITIES Price Target: Rs 1,050 CMP: Rs 792 Upside: 33%
- Put behind tumultuous period post IL&FS crisis through fund raising and rating upgrade
- Management change, stressed assets clean-up, operating model revamp has also helped
- Focus on affordable and emerging prime loans doubles to help sustain margins
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