Kotak upgrades defence stock amid execution risk concerns
Kotak upgrades BEL to 'Add' with a target of ₹320, citing strong order visibility and stable margins. However, execution risks and project delays could cap near-term returns. Valuation appears fair given sectoral tailwinds and defence budget allocation.
📊 STOCKS: $BEL | 🏢 SECTOR: Defence | #MEDIUMIMPACT #BrokerUpgrade
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