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Axis Securities today initiated coverage on the PSU company’s stock with a BUY recommendation and a target price of Rs 340/share, representing a potential upside of 20% from the current market price (CMP).
Kotak Institutional Equities (Kotak IE) sheds light on the recent rally in Public Sector Undertaking (PSU) stocks, attributing it to top-down bullish sentiment rather than fundamental developments.
PSU stocks see a sharp turn on the negative path for the second straight session, eroding investor wealth of nearly Rs 5 lakh crore combined in two trading sessions.
PM Modi said that people’s confidence is rapidly improving in PSU companies in his address in Rajya Sabha today.