Edelweiss initiated coverage of Gujarat Mineral Development Corp with a Buy rating and target price of Rs 105.
We have collated a list of recommendations from various global brokerage firms for March 12.
Gujarat Mineral Development Corp (GMDC) | Brokerage: Edelweiss | Rating: Buy | Target: Rs 105
Edelweiss has initiated coverage of the stock.
“We see imminent volume uptick in post-production ramp-up at new mines, despite stagnant prices,” the brokerage said.
Edelweiss expects GMDC to pass the Rs 5,000 crore EBITDA mark by FY21.
Dr Reddy’s Laboratories | Brokerage: Jefferies | Rating: Underperform | Target: Rs 2,180
The company’s turnaround in India will take a while given its underperformance in the market over multiple years, Jefferies said in a research note.
Container Corporation of India (CONCOR) | Brokerage: Axis Capital | Rating: Hold | Target: Rs 525
Axis Capital said it expects a 4 percent CAGR in COCNCOR’S margin expansion.
“Remain watchful of realisation pressure on higher contribution from Gujarat ports,” the brokerage added.
Adani Ports and SEZ | Brokerage: Axis Capital | Rating: Hold | Target: Rs 356
Adani Ports could see 12 percent CAGR in core EBITDA (ex-SEZ) over FY18-21, according to Axis Capital.
Citi on transportation and logistics
CONCOR is the best play in the sector due to commissioning of the dedicated freight corridor (DFC), the brokerage said.
Gateway Distriparks will also benefit from the DFC, added Citi.
Citi further added that it remains Neutral on Adani Ports over concerns on capital allocation.
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