Currently, people are making good money in the share market, meanwhile brokerage firms here are giving bullish signals on HUDCO stock and advising to buy it. Brokerage firm Elara Capital has issued a buy recommendation on Hudco's stock with a bullish signal.
The brokerage started coverage on the stock in May 2024 and they still expect the counter to rise.
Hudco stocks may see a rally even after PSU and election-related activity subsides to a large extent, Elara Capital said. The brokerage expects a business CAGR of over 20 percent in FY24-27E. By FY26E, the company has reached Rs. A target of 15,000 crore AUM has been set.
About 40 per cent of HUDCO's liabilities (taxable bonds) were priced 50 bps lower and another 7 per cent (foreign currency debt) priced 100 bps lower at 7.33 per cent, with mixed cost of funds in Q4FY24. The possibility of Hudco issuing 54EC bonds in the near future will further reduce funding costs, the brokerage said in a note.
HUDCO shares have gained nearly 770% in the last two years. In June 2022 it was 33.90. The stock has gained nearly 400 percent in the past one year. The stock has gained 150 percent in the past six months, while the year-to-date 2024 is up 125 percent. Ilara Capital said the government's focus is on housing/infra and important announcements may be made in the coming days. In such a situation, this stock may rise to Rs 350.
Note: The information provided here is for informational purposes only, it is important to mention that investing in the market is subject to market risks. So always consult an expert before investing. Tv9 Gujarati never gives investment advice to anyone.
. Source
