ICICI Securities lifted its target price for Akums Drugs and Pharmaceuticals to Rs 850, up from Rs 680, while keeping a Buy rating on the stock.
Akums Drugs sees CDMO momentum
The brokerage’s Q1 FY27 review highlighted strong contract‑development‑and‑manufacturing activity for Akums, which it said could sustain growth. The new target implies roughly a 22 % upside from the cited market price of Rs 697. No changes were made to the rating, and the firm reiterated confidence in the company’s near‑term outlook.
Power Mech Projects retains Buy stance
ICICI Securities also kept a Buy recommendation for Power Mech Projects, maintaining the target price at Rs 2,950. The report noted a robust pipeline in thermal and mining sectors, suggesting about a 17 % upside from the reported current market price of Rs 2,531.
Ceigall India was upgraded from Hold to Add, with the target price nudged down to Rs 350 from Rs 360, reflecting better valuation comfort after a recent price correction. The brokerage sees roughly a 10 % upside from the cited price of Rs 319.
Conversely, the firm persisted with a Reduce rating for Central Depository Services Ltd (CDSL), despite raising the target price to Rs 1,140 from Rs 1,090. The revised target still signals about a 14 % downside from the reported market price of Rs 1,333, citing ongoing cost‑led margin concerns.
The outlook remains cautious.
Related: Indian banks push staff beyond traditional banking duties
While the upgrades and price adjustments suggest confidence in certain segments, the broader market environment remains uncertain. If the CDMO sector continues to expand, Akums could benefit; however, any slowdown might temper expectations.
These recommendations form part of NDTV Profit’s special research section, which aggregates in‑depth equity and economic analyses from leading brokerages, asset managers, and research agencies across India. The Q1 FY27 reviews for Akums Drugs, Power Mech Projects, Ceigall India, and CDSL were all produced by ICICI Securities, reflecting the brokerage’s systematic approach to evaluating quarterly performance and sector‑specific trends.
Within the Akums review, the emphasis on contract‑development‑and‑manufacturing shows the company’s positioning within a rapidly growing outsourced pharmaceutical setting, where demand for flexible production capacity is rising. The Power Mech analysis highlighted not only the current order book but also the strategic relevance of thermal and mining projects in sustaining revenue streams amid fluctuating commodity prices.
Ceigall’s upgrade to Add was justified by the brokerage’s observation that the recent price correction provided a more attractive entry point, improving the stock’s valuation metrics relative to its peers. This shift signals a subtle view that balances short‑term price movements with longer‑term growth expectations.
For CDSL, the persistent cost‑led margin concerns referenced in the report point to structural pressures within the depository services market, where fee pressures and operational efficiencies remain central to profitability. Maintaining a Reduce stance despite a modest target price increase reflects the firm’s cautious outlook on the company’s ability to offset these challenges.
All the reports carry a disclaimer that they are authored by an external party, and NDTV Profit does not guarantee the accuracy of the contents nor assumes responsibility for them. The material is intended for informational purposes only and does not constitute personalized investment advice, urging readers to consult a qualified expert before making any decisions.
