Bernstein has maintained its ‘outperform’ rating on Reliance Industries but has a reduced target price of Rs 1,520 (+22%) from Rs 1,720 earlier. Analysts feel with a difficult 2024 behind it, there’s a favourable set up for RIL into 2025. They believe 2025 will see a recovery cycle for Reliance led by Jio ARPU increase of 12%, its retail business to revert to double-digit EBITDA growth and increase in GRM margins. They expect earnings growth to be led by telecom and retail, while refining margins would see a rebound.
Goldman Sachs has initiated coverage of BSE with a ‘neutral’ rating with a target price of Rs 5,060 (-1%). Analysts feel BSE has strong industry tailwinds, but options reform clouds outlook with full valuation.
ICICI Securities has initiated its coverage of Swiggy with a ‘buy’ rating and a target price of Rs 740 (+50%). Analysts feel the food delivery major has a high-quality franchise and the stock is available at a relatively reasonable valuation.
Elara Securities has a ‘accumulate’ recommendation on TCS with a target price of Rs 4,530 (+6%). Analysts feel the IT services major’s Q3 show was weak on revenue, while margins were in line with expectations. Deal wins came in above the guided range, which should provide some visibility to growth in the near term. Also, led by conversations with clients, TCS sounded confident on strong recovery in the international markets in the coming months.
Emkay Global Financial Services has released its top picks for 2025. Analysts at the broking house said in the large-cap space, their picks are Lupin, Zomato, and Tata Motors. In the mid-cap space, the top recommendations are IndusInd Bank, Escorts, and One97 Communications (PayTM). In the small-cap space, the top three picks are StoveKraft, Metropolis Healthcare, and Quess Corp, reflecting strong growth potential and diversification opportunities.
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.
