Recommendation from Agro and Manufacturing 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.

NOVA AGRITECH LTD
CMP - ₹66.02
BSE CODE 544100
Volume 5,56,739
Face Value ₹2
Target ₹71 - ₹73
Stoploss ₹62 (CLS)

The company operates as an agricultural input manufacturer with a technology-driven, farmer-centric solution approach. Nova Agritech engages in the manufacturing, distribution, and marketing of a diverse range of product categories, including products for soil health management, crop nutrition products, bio-stimulant products, bio-pesticide products, crop protection products and innovative technologies. When assessing the financial performance, there was an impressive revenue growth of 59.04 per cent, increasing from ₹36.09 crore in Q4FY23 to report a total revenue of ₹57.40 crore in Q4FY24. The net profit also experienced outstanding growth of 145.28 per cent, reaching ₹7.88 crore, compared to ₹3.21 crore in the corresponding quarter of the previous year. The commencement of the sowing season has led to a substantial demand for fertilizers and pesticides, sparking significant optimism and driving heightened investor interest. Hence, considering the upside potential, we recommend BUY.

Hardwyn India Ltd
CMP - ₹29.57
BSE CODE 541276
Volume 10,144
Face Value ₹1
Target ₹32 - ₹34
Stoploss ₹28 (CLS)

The company specializes in manufacturing architectural hardware and glass fittings, offering comprehensive solutions for residential and commercial structures. Its extensive product portfolio includes door closers, floor springs, glass patch fittings, point-fixed architectural fittings, shower enclosure fittings, shower hinges, plastic profiles, stainless steel railings, cylindrical locks, and furniture locks, among other products. In FY23-24, the Indian real estate industry experienced unprecedented growth, exceeding all expectations and establishing new records. Urbanisation, expansion of the middle class, and infrastructure development are key drivers behind the surge. The government's dedication to tackling housing challenges and constructing an additional 2 crore homes under the scheme signifies a positive stride in fortifying the housing sector. Given that the company's business and products closely align with the needs of the real estate market, it is well-positioned for robust growth. Considering the optimistic outlook for the sector and the company's strong market position, we recommend BUY.