The markets are trending high and if you are keen to find out good bargain buys at current levels, Nuvama has listed out their top Buy recommendations. The brokerage house has initiated coverage on Max Healthcare and sees nearly 25% upside in one of the counters.
Here is a detailed look at Nuvama’s top Buy recommendations at this hour-
Nuvama on Berger Paints
Nuvama has a Buy rating on Berger Paints with a target price of Rs 670 per share.This implies almost 25% upside for the share price of Berger Paints. Nuvama continues to forecast a gradual normalisation of intensity from new players (sales flat over the past few months). In spite of some adverse impact on demand in Q2FY26 due to high rains,they expect a recovery in the second half.
The company targets a total manufacturing capacity of 1.3 million MT yearly. Berger’s Sandila plant is fully operational now. New plants in West Bengal and Odisha are likely to be commissioned in FY26.
According to the brokerage house, a gradual improvement in demand indicators observed with early momentum in urban markets and urban push is a key lever for making a bigger impact allowing it to drive margin enhancement, premiumisation and meaningful, problem-solving innovations forits customers, dealers and project partners.”
Nuvama on Max Healthcare
Nuvama has initiated coverage on Max Healthcare with a Buy rating and target price of Rs 1,430 per share. This implies nearly 24% upside for the Max Healthcare share price. They expect Max to maintain leadership in competitive micro-markets on the back of “tech-led approach driving clinical outcomes and talent retention.” They believe that this coupled with “a strong balance sheet, healthy cash flow (funding capex) and industry-leading returns, fortifies confidence in Max’s long-term growth story.”
The other factors supporting the target for Max include “plans to nearly double bed capacity to 9,400 over four years,” added Nuvama. According to their forecast “a 20% annualised revenue growth over FY25–FY28.” The brokerage house elaborated that this forecast has been supported by “15% growth in existing hospitals through bed additions, ramp-up of four new hospitals – Dwarka, Noida, Lucknow and Nagpur and greenfield projects such as Gurgaon Sec 56 and Mohali.”
Nuvama on Century Plyboards
Century Plyboards is another key share in focus for Nuvama. The brokerage house has a Buy rating with a target price of Rs 901 per share.This implies an upside of 12% for the Century Plyboards share price. Nuvama has maintained the rating, given Century Ply’s continued outperformance in plywood and MDF, and renewed focus on laminates.
According to Nuvama, “Century Plyboards continues to outperform peers, delivering higher volume growth and EBITDA margins.” The management expects the plywood category to transition to a premium product category in the wood panel industry due to rapid cannibalisation of lower-grade plywood by MDF. This, according to the company, “shall lead to a larger shift towards organised players in the plywood industry.”
Laminates have been a problem area for Century Plyboards. Nuvama explained that the underperformance in laminates is attributed to a slow ramp-up at the new Badvel unit. “The company has taken corrective measures and appointed a new CEO (ex-Asian Paints executive). It sees huge potential in white label exports to the West for compact laminates arising out of the cost benefit that Indian manufacturers enjoy,” they added.