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JM Financial has started coverage on Meesho with a Reduce rating and a Rs 170 target for March 2027, citing limited upside after the stocks sharp post-listing rally. Meesho, which debuted at Rs 161.20 in December, surged 58% to Rs 254.65 but has since corrected nearly 36% and is now trading at Rs 164.
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News and Media
BHEL shares rebounded after a sharp selloff triggered by concerns that India may ease restrictions on Chinese firms bidding for government contracts. Brokerages remain divided, with JM Financial seeing limited long-term impact and Jefferies flagging potential risks pending policy clarity.
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Brokerages are divided on how a potential easing of Indias restrictions on Chinese firms bidding for government contracts could affect Bharat Heavy Electricals Ltd. While Jefferies flags competitive risks if curbs are lifted, JM Financial argues that any relaxation, especially at the component level, would lower costs, improve execution and leave BHELs market position largely intact, underpinning its positive long-term outlook on the stock.
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News and Media
Who is Reza Pahalavi: Tens of thousands of Iranians heeded exiled Crown Prince Reza Pahlavi's call to protest the clerical leadership, filling streets nationwide. These demonstrations, driven by economic hardship, mark a new phase testing public support for figures once distant from everyday Iranians, as security forces respond with force.
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News and Media
Elecon Engineering Company's shares plunged 13.2% after reporting a 33% drop in Q3 FY26 net profit to Rs 72 crore, despite a marginal 4.3% revenue increase. The company cited order inflow delays and increased employee costs impacting EBITDA margins. However, management expressed confidence in future recovery due to healthy open orders and steady demand from key domestic and overseas industries.
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News and Media
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