The brokerage believes the company will register a healthy operating cashflow of Rs 63bn/year over FY23-25E, to support debt reduction going ahead.

The stock trades at a P/E multiple of 38.9x and EV/EBITDA multiple of 24.4x its FY2025 estimates.

At the CMP, the stock is trading at an attractive valuation of 10.9x its FY2024E EPS and 8.5x its FY2025E EPS.

Lumax Auto Technologies, incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 1719.62 Crore) operating in Auto Ancillaries sector.

Voltas, incorporated in the year 1954, is a Large Cap company (having a market cap of Rs 29129.44 Crore) operating in Consumer Durables sector.

Trading below all the major moving averages onmultiple time frames.

Promoters held 64.17 per cent stake in the company as of 31-Dec-2022, while FIIs owned 4.15 per cent, DIIs 20.77 per cent.

CESC, incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 10319.57 Crore) operating in Power sector.

IT pack is performing well and Mphasis has finally surpassed the major hurdle at 200 EMA.

Oil India, incorporated in the year 1959, is a Mid Cap company (having a market cap of Rs 27977.65 Crore) operating in Gas & Petroleum sector.

Suprajit Engineering, incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 4937.12 Crore) operating in Auto Ancillaries sector.

A short dip from the peak level is witnessed but the overall trend is maintained positive and with the RSI also well placed has shown immense upside potential to carry on with the momentum further.

Cummins India, incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 44748.40 Crore) operating in Engineering sector.

Steel Authority of India (SAIL), incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 35625.78 Crore) operating in Metals - Ferrous sector.

Promoters held 62.76 per cent stake in the company as of 31-Dec-2022, while FIIs owned 12.12 per cent, DIIs 9.0 per cent.

The stock trades at 4.8x its FY2025E EPS and 0.7x its FY2025E P/BV.

Promoters held 59.29 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.95 per cent, DIIs 1.75 per cent.

Sagar Cements., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 2885.37 Crore) operating in Cement sector.

Indian Hotels Company, incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 44984.08 Crore) operating in Tourism & Hospitality sector.

Choice Broking values the stock based on Sep-24E EPS to arrive at a target price of Rs 893 (valuing at 25x) and improve its rating from neutral to Add on the stock.