This article examines the brokerage recommendations for Modine (MOD) and compares them to the Zacks Rank, highlighting the potential limitations of relying solely on analyst ratings. The author suggests using the ABR as a validation tool for your own research or a proven system like the Zacks Rank.
Reliance Industries (RIL) released its fourth-quarter results, showing a 10.8% year-over-year increase in gross revenue to ₹2,64,834 crore, while profit after tax (PAT) remained almost flat at ₹21,243 crore. Performances were positive across the board, including in oil and gas, retail, and telecom.
Brokerages have reacted positively to the results, with many maintaining their positive ratings and raising RIL’s stock target prices. Here are the recommendations from some key brokerages:
– Motilal Oswal Financial Services: Retain buy rating with a target price of ₹3245.
– Morgan Stanley: Overweight call with a target price of ₹3,046.
– Nuvama Wealth Management: Raised target price by 10% to ₹3,500, with a ‘buy’ recommendation.
– Kotak Institutional Equities: ‘Add’ call with a revised fair value of ₹3,200.
– Emkay Global Financial Services: Retains ‘add’ call with a target price of ₹3,200.
Reliance share price saw a positive trend after a modest start on Tuesday, April 23, a day after the company announced its March quarter results. The stock opened at 2,958, slightly below its previous close of 2,959.70. Despite an initial dip to 2,952.50, it quickly recovered and was trading 0.35% higher at 2,969.95 around 9:25 am. Reliance’s share price has climbed about 39% over the past year, outperforming the Nifty 50 benchmark.
