Stories
Meesho, Sansera Engineering Soar on Brokerage 'Buy' Ratings; Blue Star Slips
- •Meesho shares surged 5% after UBS maintained a 'buy' rating and increased its target price to ₹260, citing raised FY29-31 NMV and EBITDA estimates.
- •Sansera Engineering advanced 6% as Goldman Sachs reiterated a 'buy' rating and lifted its target price to ₹4,990, driven by potential growth from semiconductor investments in India and a $180 million order win.
- •Blue Star's stock fell 2% after Jefferies kept a 'hold' rating, noting Q2 margin pressure from rising commodity costs and a weak rupee, with recovery expected in H2.
- •Reliable Data Services gained 4% following board approval to raise up to Rs 200 crore for new projects, existing project upgrades, and working capital enhancement.
- •Overall market breadth on the BSE was positive, with 2171 shares advancing, while the IT index declined and realty indices saw gains.
Key Questions Answered
Meesho share price jumped 5% after UBS kept a 'buy' rating on the stock and raised its target price to ₹260. Additionally, UBS raised its FY29-31 net merchandise value and contribution profit estimates significantly, alongside a 20-40% increase in EBITDA estimates.
Sansera Engineering advanced 6% after Goldman Sachs maintained a 'buy' rating and raised its target price to ₹4,990. The brokerage highlighted potential long-term growth contributors from major investments by Applied Materials and LAM Research in India, alongside Sansera's $180 million semiconductor order win from an existing customer.
Shares of Blue Star slipped 2 percent after Jefferies kept a 'hold' rating on the stock with a target price of ₹1,635. The drop was influenced by rising commodity costs and a weak rupee continuing to pressure second-quarter margins.
