Reliance Industries
- BROKERAGE: CLSA Value
- Goal: Rs 2,970 CMP: Rs 2,270.05
- Upside: 30.8%
Inventory at solely 5% above conservative valuation after latest fall; cut price purchase Assumes no worth for brand spanking new vitality biz; identical fairness valuation for Jio/retail at which PEs invested in 2020 Ramp-up of FMCG enterprise, the launch of Airfi ber and new reasonably priced 5G smartphone triggers in FY24.
Phoenix Mills
Opened eleventh mall in Ahmedabad in Feb; On monitor to open Pune and Bengaluru malls in Q1FY24 Wholesome pre-leasing of upcoming malls gives robust near-term visibility on rental development Sturdy consumption momentum throughout malls; bettering pre-Covid consumption run-rate by 10-40%.
Sula Vineyards
- BROKERAGE: CLSA
- Value Goal: Rs 475 CMP: Rs 340.85
- Upside: 39.3%
Properly positioned to learn from the buyer shift to low-alcohol drinks — beer and wine. Anticipated to see highest income & EP) compounded development over FY22-25 vs alcohol firms. Change in wine incentive schemes poses a key regulatory danger for the corporate.