This stock can make your profit, know what the brokerage firm has to say?

Multibagger stock Tips: Brokerage firm HDFC Securities has given ‘Buy’ tag to the shares of Birla Corporation giving multibagger returns in 2021. According to the brokerage, the Q2FY2021-22 report of MP Birla group company is in line with the market expectations. The brokerage firm advised stock investors to buy this Multibagger stock with a medium to long term target level of ₹1634 per share.

Highlighting the reasons for Birla Group being bullish on this stock; HDFC Securities’ research report said, “Birla Corporation has reported broadly in-line performance in Q2FY22. Weak offtake in some of its key markets reduced its consolidated revenue growth to 3 per cent YoY, revenue with ₹17bn. Higher energy and packing costs propelled OPEX. , EBITDA/APAT down 30/49 per cent year-on-year to ₹2.67/0.86bn. A weak Q2 also flattened H1FY22 EBITDA and WC stretch reduced OCF by 23 per cent YoY to ₹4.6bn. Its net debt remained flat at ₹35bn. (vs March’21).”

The brokerage report further said, “We continue to prefer BCORP (Birla Corporation) for its large retail presence in attractive North/Central regions and various cost-cutting initiatives. The report further stated that BCORP (Birla Corporation) ) is also aiming to pursue its captive coal mining H2FY22.

On the advice given to stock market investors regarding this multibagger stock, HDFC Securities’ report says, “We expect our BUY rating on Birla Corporation (BCORP) to remain unchanged at ₹1,634/share (8.5x Sep’23E Consolidated EBITDA) target. Keeping up with the price.”

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