BHEL share price falls 2%; Kotak sees big downside, but Nuvama, JM Financial stay bullish – Market News
The share price of Bharat Heavy Electricals (BHEL) ended Monday’s session in the red, falling 2.3% to close at Rs 244.45. But what is sparking conversation on Dalal Street is not the dip alone but the divergence in the outlook of various brokerages.
While some remain bullish on the PSU engineering giant, one brokerage has taken a strong contrarian stance. Kotak Institutional Equities has slapped a ‘sell’ tag on BHEL and sees a drastic 55% downside from current levels, predicting the stock may fall to Rs 115.
Let’s take a look at what the brokerages are saying and why they are so divided.
Kotak calls a caution on BHEL: ‘Sell’ with Rs 115 target
The brokerage firm Kotak Institutional Equities has raised eyebrows with…
