BofA Sec has identified new avenues for growth for Bharat Forge, citing solid momentum in defense revenues, strong performance in passenger vehicle exports, and growth prospects in industrial casting.
Bharat Forge target price: Analysts said while there is a ramp-up in Defence segment, the growth outlook for the commercial vehicle segment is soft beyond FY24 and outlook for global exports, including industrials, is also muted.
Analysts said investors need to be selective while picking midcap stocks following the sharp rally. A couple of them suggested a few midcap stocks that investors can keep an eye on in 2024.
For Thursday, share market analyst from a domestic brokerage has assigned Buy calls on Bharat Forge, India Pesticides and UNO Minda. Check price targets and other crucial details.