Q4 Results Impact: Minda Corp, NOCIL Indoco Remedies, DLF and other 2 stocks surge up to 9% – brokerages recommend Buy

Shares of Galaxy Surfactants, NOCIL, Minda Corp, Indoco Remedies, PI Industries, and DLF surged up to 9 per cent on the BSE intraday on Wednesday’s trading session, after reporting strong revenue and margins during the March quarter results for the financial year 2021-22 (Q4FY22) on Tuesday.  

Individually, Galaxy Surfactants and NOCIL shares reported a maximum surge by around 9 per cent to Rs 2822 and Rs 265 per share, while Minda Corp and Indoco Remedies shares gained by around 7 and 6.5 per cent to Rs 221.5 and Rs 375.1 apiece, respectively on the BSE intraday.  

Similarly, PI Industries gained over 4.5 per cent to Rs 2638.35 per share on the BSE intraday and DLF shares gained over 3 per cent in the early morning trade, however, slipped to trade flat with a positive bias at Rs 334.35 apiece as against 0.46 per cent rise in the BSE Sensex at around 10:13 PM. 

YES Securities on Indoco Remedies raised revenue estimates for FY22 on the back of strong US guidance which has offset the impact of gross margin cut; a bottoming out of margin coupled with an unchanged growth outlook would support rerating. 

The brokerage gives a Buy rating with a target price of Rs 500 per share (42 per cent upside), amid a strong growth prognosis, and the stock remains one of its top bets in pharma. 

YES Securities believe Minda Corp is well placed, led by effective execution in term of new order wins in EVs (potential EV kit value of Rs 16-20k), focus on value-added products (smart key and advanced TFT clusters), and increasing localization.  

The company is also well-positioned, led by a better demand outlook in CVs and exports and cost optimization, and expects margins to expand further in the long run, the brokerage added. 

For PI Industries, NOCIL and Galaxy Surfactants, Motilal Oswal reviewing its strong fourth quarter results recommended to Buy both the stocks with a long-term view.