Motilal Oswal see 4% downside for Bharat Dynamics, starts coverage with neutral call amid lofty valuations
Motilal Oswal has initiated coverage on Bharat Dynamics Ltd with a ‘neutral’ rating and a target price of Rs 1,900, about 4% below its current market value, cautioning that the stock’s sharp run-up leaves little room for near-term upside. While lauding the defence manufacturer’s robust order book, export momentum, and earnings potential, the brokerage said … Read more