Reliance, Bharat Forge and more: Tuesday’s top brokerage calls
Reliance Industries | CLSA has maintained a ‘buy’ rating on Reliance Industries with a target of Rs 3,060 per share, following the company’s 46th annual general meeting on Monday. It says with the JioAirFiber launch next month, the target market is seen at 200 million people. Bharat Forge | Nomura has maintained a ‘buy’ rating on Bharat Forge with a target of Rs 1,157 per share. It says the company’s defence vertical continues to grow with more orders.Reliance Industries | Jefferies has maintained a ‘buy’ rating on Reliance with a target of Rs 2,950 per share. It says the company’s 46th annual general meeting (AGM) laid out the succession plan with the induction of the next generation in Reliance’s board. It says the company’s entry into wind energy for ROTC renewable supply came along expected lines.Manappuram Finance | Morgan Stanley has maintained an ‘overweight’ rating on Manappuram Finance with a target of Rs 183 per share. It says the court has quashed hte ED case against its promoter, resulting in a significant overhang being removed.
