𝗧𝗼𝗽 𝗦𝘁𝗼𝗰𝗸𝘀 𝘁𝗼 𝗪𝗮𝘁𝗰𝗵 𝗼𝗻 𝗝𝘂𝗻𝗲 𝟭𝟲
Morgan Stanley maintained an overweight rating on Reliance Industries with a target price of Rs 1,803.
- Energy security policies and tight refining markets support product spreads.
- Oil to chemicals earnings remained steady despite higher logistics costs.
- Chemical cycle recovery expects earnings growth of 6-8% this year.
- Solar module and energy storage manufacturing is increasing.
- Stock trades at a 68% discount to domestic peers.
Citigroup initiated coverage of LG Electronics India with a buy rating and a target price of Rs 1,800.
- The company holds high market share in washing machines, refrigerators, TVs, and ACs.
- Manufacturing is 85% localized.
- A new Sri City plant requires Rs 5,000 crore in capital expenditure.
Macquarie initiated coverage of GMR Airports with an outperform rating and a target price of Rs 125.
- Airports benefit from premium travel spending in retail and duty-free sectors.
- Large landbanks provide opportunities for commercial development.
Jefferies issued a buy rating for Interglobe Aviation (IndiGo) with a target price of Rs 5,380.
- Management focuses on pricing amid cost inflation.
- The company is expanding its fleet and international routes.
- Forex hedging efforts are increasing.
Nomura maintained a buy rating on Nestle India with a target price of Rs 1,500.
- The company responded to an FSSAI notice regarding a Maggi packet.
- Nestle stated that independent lab tests confirmed samples were free of infestation.
- The company submitted quality records to the FSSAI.
Source: The Times of India