Sarda Energy Shares Surge After HDFC Securities Issues 'Buy' Rating
Sarda Energy gains 5% after HDFC Sec initiates coverage with 'buy' rating
Business Standard
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Sarda Energy & Minerals saw a 5.12% increase in share price following a 'buy' rating from HDFC Securities. The brokerage highlighted the company's diversified business model and positive demand outlook, setting target prices of ₹610 and ₹664. Year-to-date, the stock has risen over 14%, outperforming the Nifty 50 index.
- 01Sarda Energy's shares rose by 5.12% after HDFC Securities initiated coverage with a 'buy' rating.
- 02The stock closed at ₹583, with a year-to-date gain of over 14%.
- 03HDFC Securities set target prices of ₹610 and ₹664 based on projected growth.
- 04The brokerage expects profit growth to accelerate to 28% year-on-year.
- 05Sarda Energy operates in steel manufacturing, ferroalloys, mining, and power generation.
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Shares of Sarda Energy & Minerals surged by 5.12% on Monday, closing at ₹583, following a 'buy' recommendation from HDFC Securities. Despite the Nifty 50 index declining by nearly 1%, Sarda Energy's stock has outperformed, gaining over 14% year-to-date. HDFC Securities praised the company's diversified business model and optimistic demand outlook, setting target prices of ₹610 and ₹664. The brokerage's analysis projects a realistic revenue growth of 11% year-on-year from FY25 to FY28, driven by volume increases and pricing stability. Profit growth is anticipated to reach 28% year-on-year, supported by improved operational efficiencies and a focus on value-added products. Headquartered in Raipur, Chhattisgarh, Sarda Energy is involved in various sectors, including steel manufacturing, ferroalloys, mining, and power generation.
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The positive rating and projected growth could enhance investor confidence, potentially leading to increased investments in Sarda Energy.
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