The brokerage also increased the target price for other key players in the sector with Bharti Airtels target at Rs 1,430 and Reliance Industries target price at Rs 3,340, foreseeing an upside of 13.5% and 17.4%, respectively.
Domestic brokerage house Prabhudas Lilladher has advised long-term SIPs (systematic investment plans) with Aditya Birla Group stocks. In its latest newsletter, the brokerage has endorsed the consistent wealth-building potential of these stocks.
Prabhudas Lilladher advises long-term SIP in Aditya Birla group stocks thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
When asked about Kotak Mahindra Bank shares, the market expert said immediate support will be at Rs 1,650. "A decline below the said support level can drag the stock towards Rs 1,600. Resistance will be at Rs 1,730-1,740 levels," Palviya told Business Today TV.
Shares of Vodafone Idea rebounded more than 11 per cent in the trading session on Thursday after the securities issue in FPO were listed. The stock kicked-off the trading session at Rs 11.80 but was seen at Rs 13.10 within a few minutes.