Reliance Industries: A Bright Future Ahead

Bernstein maintains an 'outperform' rating on Reliance Industries, adjusting the target price to Rs 1,520, a 22% increase. Analysts predict a recovery cycle for RIL in 2025, driven by a 12% increase in Jio ARPU, double-digit EBITDA growth in retail, and improved GRM margins. The telecom and retail sectors are expected to lead earnings growth, with refining margins rebounding.

BSE and Swiggy: Market Perspectives

Goldman Sachs starts coverage on BSE with a 'neutral' rating and a Rs 5,060 target price, citing strong industry tailwinds but cautioning about options reform. ICICI Securities recommends a 'buy' for Swiggy, setting a Rs 740 target price, praising its high-quality franchise and reasonable valuation.

TCS and Emkay's 2025 Picks

Elara Securities advises 'accumulate' on TCS with a Rs 4,530 target, noting weak Q3 revenue but strong deal wins. Emkay Global highlights Lupin, Zomato, and Tata Motors as large-cap leaders, with IndusInd Bank, Escorts, and PayTM leading mid-caps, and StoveKraft, Metropolis Healthcare, and Quess Corp as top small-cap picks for 2025.

Disclaimer: The views and recommendations above are those of brokerages and do not reflect the official stance of The Times of India. Consult a financial advisor before making investment decisions.