Domestic brokerage JM Financial, which initiated coverage on the stock with a Buy rating, values the stock at 4x Sep’24e P/BV to arrive at a target price of Rs 400. This signals an upside potential of up to 32 per cent.
Nomura acquired over 4.1 lakh shares in Azad Engineering for Rs 66 crore through a block deal at an 8% discount. Despite the investment, Azad’s
Indian stock benchmarks Sensex and Nifty recorded their first weekly gain this week after two straight weeks of decline. On the weekly front, the BSE
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