Recommendation from Consumer Food and banking sector

The scrips in this column have been recommended with a 15-day investment horizon in mind and carry high risk. Therefore, investors are advised to take into account their risk appetite before investing, as fundamentals may or may not back the recommendations.[EasyDNNnews:PaidContentStart]

DEVYANI INTERNATIONAL LTD
CMP - ₹218.90
BSE CODE 543330
Volume 88,469
Face Value ₹1
Target ₹242 - 248
Stoploss ₹207 (CLS)

Founded in 1991, Devyani International Ltd has solidified its reputation as a highly reliable Quick Service Restaurant (QSR) operator in India. It holds the distinction of being the largest franchisee for Yum Brands (including KFC and Pizza Hut). Additionally, it satisfies the cravings of coffee aficionados with its Costa Coffee offerings and maintains a robust presence in the food retail sector through its food court operations. As of March 31, 2023, the company boasts an extensive network of around 1,250 stores spread across various brands. Considering the company’s financial performance, on a consolidated basis, it reported a notable growth of 20.14 per cent from ₹704.72 crore registered in Q1FY23, recording total revenue of ₹846.63 crore in Q1FY24. The net profit for the first quarter of FY24 declined significantly to ₹11.76 crore as compared to the same quarter last year. Shares of the company have climbed 50 per cent in the last six months, currentlyhovering around the ₹222 mark, with a 52-week high of ₹227.75 per share on the BSE. Hence, we recommend BUY.

Bank of Maharashtra
CMP - ₹49.46
BSE CODE 532525
Volume 63,62,230
Face Value ₹10
Target ₹53 - 57
Stoploss ₹44.20 (CLS)

Bank of Maharashtra is engaged in providing banking services. The bank's segments include treasury, corporate and wholesale banking, retail banking and other banking operations. In Q1FY24, total deposits surged by 25 per cent YoY, reaching ₹2,44,365 crore as of June-end 2023. Low-cost current account and savings account (CASA) deposits decreased slightly to 50.97 per cent compared to 53.38 per cent at the end of March 2023. Meanwhile, total advances witnessed a substantial 24.63 per cent YoY increase, standing at ₹1,75,676 crore. The bank reported a remarkable 95 per cent YoY surge in net profit for the first quarter, totalling ₹882 crore, compared to ₹452 crore in the same quarter of the previous year. This impressive performance can be attributed to robust growth in net interestincome, other income, and reduced loan loss provisions. A.S. Rajeev, the Managing Director and CEO, Bank of Maharashtra, anticipates that the bank will achieve a growth rate of 20-22 per cent in advances and 14-15 per cent in deposits during the ongoing financial year. Hence, we recommend BUY. 

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