Nuvama initiated coverage on Royal Orchid Hotels citing its favorable demand-supply of rooms led by 7.8 per cent CAGR in travel and tourism over FY22–32E against a supply of 4.6 per cent.
Brokerage selected five midcap stocks and four smallcap stocks as its top picks. Some of these are Dalmia Bharat, Federal Bank, PNC Infratech, Praj Industries, and Ashok Leyland among others.
While analysts are positive on PNC Infratech, HAL and Ahluwalia Contracts due to their strong order books, they like Sobha for strong pipeline and positive residential sales momentum in the Bengaluru housing market