India's Birla Corp shares rise; Motilal Oswal raises PT

Birla

21/12/2023 06:34

** Shares of Birla Corporation  BRLC.NS  up 2% at 1,393.35
rupees 
    ** Brokerage Motilal Oswal reiterates "buy" rating on stock,
raises PT to 1,700 rupees from 1,655 rupees, implying an upside
of ~25% to its last close
    ** Motilal's PT is third-highest among 14 analysts tracking
BRLC - LSEG
    ** BRLC's net debt, due to low profitability and high capex,
is estimated to have peaked in FY24 and is anticipated to
decline over FY25-26 - brokerage
    ** Expects revenue and EBITDA to grow at CAGR of 8.5% and
33% over FY23-26, led by higher sales, cost cutting and better
realisation
    ** Analysts' avg rating on BRLC at "strong buy"; median PT
is 1,467 rupees - LSEG
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))