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 maintain a BUY rating on Dalmia Bharat with a lower target price of INR 2,205/share (12x its Sep-26E consolidated EBITDA)</li><li>We hosted its management for non-deal roadshows in Mumbai</li><li>The company is battling multiple challenges in the near term as it delivered lower than guided volume offtake in FY24 and also suffered on margins as it tried to regain some of the lost volumes</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 maintain a BUY rating on Dalmia Bharat with a lower target price of INR 2,205/share (12x its Sep-26E consolidated EBITDA)We hosted its management for non-deal roadshows in MumbaiThe company is battling multiple challenges in the near term as it delivered lower than guided volume offtake in FY24 and also suffered on margins as it tried to regain some of the lost volumesContent 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.

Dalmia Bharat: Near-term challenges to continue. Maintain BUY