Global View: UPL, ICICI Bank and Anupam Rasayan could give 20-40% return
Indian market opened higher on Friday amid mixed global cues as benchmarks gained more than 0.25% in the opening trade
![Global View: UPL, ICICI Bank and Anupam Rasayan could give 20-40% return Global View: UPL, ICICI Bank and Anupam Rasayan could give 20-40% return](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2022/03/25/178320-stock-market-pixab.jpg?itok=QWvzXD-X&c=2cb7acd8d0fbd792da46d6df2cf6eb38)
Indian market opened higher on Friday amid mixed global cues as benchmarks gained more than 0.25% in the opening trade. There will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.
We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:
UPL: Buy| Target Rs 1100
CLSA maintained a buy rating on UPL with a target price of Rs 1100 which translates into an upside of over 37 per cent from Rs 799 recorded on 24 March.
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Rise in soft commodity prices due to ongoing geopolitical tensions could be a near-term concern. However, higher demand for UPL’s Glufosinate as a key competitor faces supply issues, and benefits of price increases taken last year bode well company’s revenue and profitability.
ICICI Bank: Outperform| Target Rs 850
Credit Suisse maintained an outperform rating on ICICI Bank with a target price of Rs 850 that translates into an upside of over 20 per cent from Rs 704 recorded on 24 March.
Growth and asset quality is likely to hold while net interest margins (NIMs) to pause. The bank is seeing high growth in opex, driven by tech investments, as well as wage inflation and business-related opex.
The bank is well capitalised, and has no plans to reduce stakes in subsidiaries, said the note.
Anupam Rasayan: Buy| Target Rs 1040
Jefferies initiated a buy rating on Anupam Rasayan with a target price of Rs 1040 that translates into an upside of over 20 per cent from Rs 864 recorded on 24 March.
The company is well-positioned to benefit from 'China + 1' with its diversified chemistry expertise, wide customer base and presence across multiple verticals.
The global investment bank forecast Rev/ EBITDA/PAT CAGR of 33%/29%/31% over FY22-24E.
(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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