Reliance Capital Deutsche Bank has increased target to Rs 650 from Rs 535 per share stating that adverse regulatory changes are a key risk. It says improving profitability at operating business should lead ROE to 10 percent by FY18. It expects asset management business to benefit from continued buoyancy in equity markets and that recent changes will help simplify the group structure.
UPL Citi has buy rating on the stock with target at Rs 860 per share as sound business model delivers in tough times.
PI Industries Citi has initiated buy call with target at Rs 1060 per share. It says near-term demand uptick is driven by decent monsoons this year. It adds that CSM business with a strong order book adds a clear visibility of 3-4 years.
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