Jefferies initiates coverage on 8 Indian stocks: Check complete list, analysis here - Hindustan Times
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Jefferies initiates coverage on 8 Indian stocks: Check complete list, analysis here

May 27, 2024 03:39 PM IST

Here's a look at 8 stocks on which Jefferies has initiated coverage this year

Global brokerage firm Jefferies initiated coverage on 13 Indian stocks in 2024. With this, the brokerage expanded its total coverage to 188 stocks with a combined market cap of $3.4 trillion.

Jefferies said that it expects EBITDA to grow 3x over FY24-FY28 as Adani Enterprises is riding on the strong industry tailwinds.(Reuters)
Jefferies said that it expects EBITDA to grow 3x over FY24-FY28 as Adani Enterprises is riding on the strong industry tailwinds.(Reuters)

Here's a look at 8 stocks on which Jefferies has initiated coverage this year:

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360 One WAM: Jefferies said, “The asset management company (AMC) is entering a PE fundraising cycle as large maturities approach and should deliver a 20 percent AUM CAGR. Despite some pressure on fees, operational leverage will drive a consolidated C/I ratio improvement of >400bps over the next 3 years and deliver PBT CAGR of 22 percent.”

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Adani Enterprises: The brokerage said that it expects EBITDA to grow 3x over FY24-FY28 as Adani Enterprises is riding on the strong industry tailwinds in new energy/sustainability, airports, infra, digitalisation, and import substitution in India.

Bharti Hexacom: Jefferies said that Bharti Hexacom will deliver 16%/21% CAGR in revenue/EBITDA coupled with moderation in capex.

Data Patterns: Jefferies said the company's revenues should rise nearly 5x in FY24E-30E as indigenisation and export pipeline might benefit the company. ROE improvement and reducing working capital intensity are the other drivers, the brokerage said.

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Entero Healthcare Solutions: The brokerage said the company could gain from industry consolidation and in FY24-26E it could witness 44 per cent revenue CAGR and an 8x increase in adj. PAT.

Kaynes Technology: Over FY24-26e, Jefferies estimated sales/PAT CAGR at 46 percent/59 percent with a 14-15 percent core OPM. The brokerage assigned target P/E at 50x to Mar'26 EPS in line with the historical trading average.

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PB Fintech: Jefferies said that PB Fintech should witness 30% CAGR in premiums over FY25-27E backed by strong operating leverage in its renewal book.

Syrma SGS Technology: The company's "core Operating Profit Margin (OPM) of 7-8% is comparable to AMBER but double that of DIXON. By focusing on niche verticals, SYRMA aims to achieve a sales/PAT CAGR of 36%/57% over FY24-26, with OPM remaining at 7-8%," Jefferies noted.

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