Financial results for March 2024 are about to be released and ahead of the same, various Brokerages have started providing stock targets with aggressive upsides on the company shares.
Listed below are three stocks with minimal or nil levels of debt-to-equity, which is one of the most important factors for a business for comparatively less short-term obligations, that one should add to their watchlist for a potential upside of up to 31 percent:
Jyothy Labs Limited
With a market capitalization of Rs 15,518.24 crores, the stocks of Jyothy Labs Limited, a renowned brand in the domestic FMCG industry, opened their trading hour on Friday at Rs 424 and closed the session at Rs 422.60, slipping approximately 0.40 percent as compared to the previous closing levels of Rs 424.35 apiece.
Axis Direct recently gave a ‘Buy’ recommendation on the stocks of Jyothy Labs Limited with a target price of Rs 475, indicating a gain of around 13 percent compared to the closing share price level. The company reported a minimal debt-to-equity ratio of ‘0.03’.
The rationale behind providing such a recommendation pertains to the company’s scope for margin expansion, decent valuation compared to peers, and many more.
Nippon Life India Asset Management Limited
With a market capitalization of Rs 29,706.13 crores, the stocks of Nippon Life India Asset Management Limited, engaged in managing mutual funds including exchange-traded funds (ETFs), opened their trading hour on Friday at Rs 473.80 and closed the session at Rs 472, slipping approximately 0.10 percent as compared to the previous closing levels of Rs 472.55 apiece.
Prabhudas Lilladher recently gave a ‘Buy’ recommendation on the stocks of Nippon Life India Asset Management Limited with a target price of Rs 610, indicating a gain of around 30 percent compared to the closing share price level. The company reported a debt-to-equity ratio of ‘0’.
The rationale behind providing such a recommendation pertains to the company bolstering the investment process and risk management, strong ‘core’ earnings growth led by operating leverage, and many more.
Exide Industries Limited
With a market capitalization of Rs 26,095 crores, the stocks of Exide Industries Limited, engaged in the manufacturing of storage batteries and allied products in India,
opened their trading hour on Friday at Rs 305.90 and closed the session at Rs 305.20, slipping approximately 0.20 percent as compared to the previous closing levels of Rs 305.90 apiece.
ICICI Direct recently gave a ‘Buy’ recommendation on the stocks of Exide Industries Limited with a target price of Rs 400, indicating a gain of around 31 percent compared to the closing share price level. The company reported a minimal debt-to-equity ratio of ‘0.06’.
The rationale behind providing such a recommendation pertains to the company’s commitment to EV transition, margins set to improve base business amid stable lead prices, and many more.
Written by Amit Madnani
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