Ambit Capital has a ‘sell’ rating on the stock, with a price target of Rs 1,312. HDFC Securities sees it at Rs 1,400. Edelweiss Wealth has ‘buy’ on the counter with a target of Rs 2,365. Dalal & Broacha Stock Broking said downside is limited and long-term investors should hold, as it finds the stock Rs 2,001 worthy. Centrum sees it at Rs1,944 while Nirmal Bang Institutional Equities at Rs 2,240.
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This strength is underpinned by robust domestic demand, a sustained capex cycle, and relatively limited exposure to global shocks compared to developed markets.
December 9, 2024