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.
Currently, we are also seeing that the Fibonacci golden ratio is also coming near 24,400 level. So, closing once Nifty gets above that level on
Nifty has surged 10% from its April low, reaching 24,461, prompting experts to advise caution on lumpsum investments due to expected volatility. SIPs remain the
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