Brokerages bullish on eClerx, V-Guard, Dhanuka Agritech, 7 other stocks for long term; here is why

CDSL share price target: HDFC Securities has recommended buying the CDSL stock with targets between Rs 2,215 and Rs 2,360. As of April 17, 2024 at 11:21 am, current stock price is Rs 1,975.55, which means it can rise up to almost 20 per cent.

They expects CDSL's revenue and profit after tax (PAT) to grow at a compounded annual growth rate (CAGR) of 28 per cnet and 31 per cent respectively over the next 3 years (FY23-FY26E). The report also highlighted the company strong financial health with a high return on invested capital (ROIC) of 82 per cent, consistent cash conversion above 80 per cent for the past 5 years and a healthy net cash position.

Senco Gold share price target: Emkay has recommended buying the Senco Gold stock for a target of Rs 1,100 for the next 12 months. The brokerage is bullish on the stock due to company's several factors such as strong Q4 performance, solid network expansion, undervalued compared to peers and growth projections.

They forecasts strong performance with an estimated 20 per cent revenue growth and 23 per cent/27 per cent CAGR for EBITDA and PAT over FY24-FY26E, driven partly by an increasing focus on higher-margin studded jewellery. As of April 17, 2024 its CMP is 984.10, which means it has potential to increase the price by 11.77 per cent.

Cello share price target: Motilal Oswal Financial Services Ltd (MOFSL) has a 'buy' rating on the Cello World stock with a target of Rs 1,100. The brokerage research also highlighted strong projected return on equity (RoE) and return on capital employed (RoCE) of 32 per cent and 39 per cent respectively in FY26E.

V Guard share price target: HDFC Securities has a 'buy' call on the V-Guard Industries stock with a target of Rs 379 and Rs 405 for a perspective next 2-3 quarters.

Utkarsh Bank share price target: ICICI Securities has maintained a 'buy' call on the Utkarsh Small Finance Bank with a target of Rs 70. The brokerage expects Utkarsh to maintain a return on equity (RoE) of over 18 per cent and achieve growth of over 25 per cnet in the next 3 years (FY24-FY26E).

Dhanuka Agritech share price target: HDFC Securities has recommended buying the Dhanuka Agritech stock for a targets of Rs 1,203.5 and Rs 1,282 for a time period of the next 2 to 3 quarters. They also suggests that to buy in at level of Rs 1,095 and Rs 1,112 and add more on when stock hit Rs 985 level.

Exide share price target: Sharekhan has maintained a 'buy' call on the Exide Industries stock with a target of Rs 477. The brokerage point out the recent collaboration between Exide, Hyundai Motors and Kia for developing, producing and supplying battery cells.

According to the brokerage partnership with major automakers provides Exide with greater visibility on the potential utilization of its upcoming lithium-ion battery project. Due to company's extensive distribution network, which has grown from 48,000 touchpoints in FY20 to 95,000 in FY23, positions them well to maintain their leadership in the lead-acid battery segment.

Pitti Engineering share price target: HDFC Securities has recommeded buying the Pitti Engineering stock with a target price range between Rs 843 and Rs 860 for the next 2-3 quarters. The brokerage also suggests to add more on dips to Rs 752-766.

Lupin share price target: Sharekhan has maintained a 'buy' call on the Lupin stock with a target of Rs 1,868 for a duration of next one year.

eClerx share price target: HDFC Securities has a 'buy' call on eClerx Services stock with a target of Rs 2,685 and Rs 2,830 for the next 2-3 quarters. They also recommends add more on dips when it hit the level between Rs 2,156 and Rs 2,200.