Emkay Global on Westlife Development Ltd (WLDL) says the company’s operating performance in the third quarter was higher than expected. During this time, the company’s revenue grew 46 percent year-over-year.
Emkay Global has made a purchase with a target price of Rs 700 on Waste Life Development stock. The brokerage house believes that this stock could see a jump of 41 per cent from the stock price near Rs 495.50 and it could be seen going up to Rs 700. On the other hand, ICICI Security PI Industries has made a buy call with a target of Rs 3375 crore. ICICI Securities says the stock has the potential to hit a target of Rs 3,375, up 32 per cent from Rs 2,553 on February 4.
In the last 3 years, the stock has risen 40 percent year-on-year, according to a report by ICICI Securities PI Industries. The company’s CSM business is expected to grow well. In view of this it is recommended to buy.
The brokerage house said that the company’s earnings in the third quarter of 2022 were in line with our estimates, while profit was better than expected due to the reduction in tax rates. The company reported 17 per cent annual growth in revenue of Rs 1,356.3 crore, while the power driven by the CSM segment grew by 14 per cent year-on-year to Rs 222.6 crore.
ICICI Securities says heavy orders in the CSM sector will further strengthen the company’s business. In addition, the company will also have access to the pharma CDMO sector.
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Westlife Development Limited (WLDL)
On the other hand, MK Global on Wastelife Development Limited (WLDL) says that the company’s operating performance in the third quarter was higher than expected. During this time, the company’s revenue grew 46 percent year-over-year. Besides, the margins were also strong.
In FY 2022, the company plans to open 25 to 30 new outlets, while in FY 2023, the company plans to open more than 40 new stores. The company plans to open more than 200 new stores in the next 3-4 years. The brokerage firm says the company has huge opportunities to open and expand new stores. Considering this, it is advisable to buy this stock with a target price of Rs.700.