Prabhudas Lilladher is bullish on Bharat Forge has recommended buy rating on the stock with a target price of Rs 1615 in its research report dated May 09, 2024.
Prasanna Pathak said that India is planning to bring down the share of logistics in total cost from 14 percent currently to 7 percent, and the biggest beneficiary of this would be the railways sector.
Over the last one year, stocks of Bharat Forge gained over 57 percent. As of 1:30 pm on May 8, the stock was trading at 6 percent lower/higher than open.
Apollo Hospitals Enterprise formed long bullish candlestick pattern on the daily charts with strong volumes. Further, the stock has seen a breakout of falling resistance trendline adjoining multiple touchpoints.
Cipla formed long bullish candlestick pattern on the daily charts with above average volumes. The stock continued to trade above all key moving averages (20, 50, 100 and 200-day EMAs) which is a positive sign.
Anticipating significant expansion in the defence sector, Baba Kalyani mentioned that in the upcoming years, the defence business could potentially surpass the company's core business in terms of size.