External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We initiate coverage on Bajaj Electricals (BJE) with a BUY rating and target price of INR 1,200</li><li>We believe BJE is a play on the growth opportunity in FMEG and anticipated rural recovery, given (1) its diverse product offerings along with a leadership position within key categories in home and kitchen appliances, (2) its well-entrenched distribution network, and (3) its higher rural saliency vs peers (c.2x of peers)</li><li>After turning net cash (after four decades) and simplifying its corporate structure under Phase 1 of its transformation journey, in its next phase, BJE is focused on industry-leading growth and aims to achieve it through (1) refreshing the product portfolio, (2) offering products across the consumer value chain via a multi-brand strategy, and (3) stepping up investments in branding and innovation.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We initiate coverage on Bajaj Electricals (BJE) with a BUY rating and target price of INR 1,200We believe BJE is a play on the growth opportunity in FMEG and anticipated rural recovery, given (1) its diverse product offerings along with a leadership position within key categories in home and kitchen appliances, (2) its well-entrenched distribution network, and (3) its higher rural saliency vs peers (c.2x of peers)After turning net cash (after four decades) and simplifying its corporate structure under Phase 1 of its transformation journey, in its next phase, BJE is focused on industry-leading growth and aims to achieve it through (1) refreshing the product portfolio, (2) offering products across the consumer value chain via a multi-brand strategy, and (3) stepping up investments in branding and innovation.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bajaj Electricals (Initiating Coverage): Making Strides in Its Transformation Journey. BUY