CLSA
has a ‘outperform’ recommendation on
Reliance Industries
with a target price of Rs 1,650 (+30%). Analysts believe post its underperformance in 2024, the stock has fallen to a conservative value. They see this as a great entry point to position for attractive gains as triggers play out later in 2025.
HSBC Global Research
has a ‘buy’ recommendation on
Bharti Airtel
with a target price of Rs 1,940 (+21%). Analysts expect the company’s per-share dividend payment to rise by 114% on an annual basis to Rs 17 in FY25 as free cash flow outlook improves and cash flow needs at promoter entities rise. They also see the telecom major’s growth levers are intact with rising mobile ARPU, expanding home broadband subscribers and rising free cash flow.
Goldman Sachs
has maintained its ‘buy’ recommendation on
ITC
with a target price of Rs 500 (+11%). Analysts based their recommendation on steady recovery in cigarette business profit growth, improving profitability and scale of the FMCG business and a stable tax regime of 5-7% annual cigarette tax increases.
Motilal Oswal Financial Services
has a ‘buy’ recommendation on
Kalyan Jewellers
with a target price of Rs 875 (+24%). The recommendation is based on strong growth in sales in Oct-Dec quarter and aggressive plans for expansion through opening of stores in the domestic and international markets.
Emkay Global
Financial Services
has a ‘buy’ recommendation on Tata Motors with a price target of Rs 950 (+19%). Analysts based their recommendation on strong sales growth by Jaguar Land Rover in the previous quarter. And in India CV outlook is improving (albeit gradually, amid slower than anticipated public capex uptick), while India PV outlook remains soft.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerages and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
