Brokers refresh calls: HSBC buys SRF, Jefferies backs Grasim, Nomura eyes Adani Ports' Europe push
A four-way reset on conglomerate-linked names: HSBC initiates SRF as a buy, Jefferies turns bullish on Grasim citing balance-sheet firepower, Nomura flags Adani Ports' marine expansion into Europe, and CLSA holds Tata Power arguing the worst is behind it. Signal for retail-adjacent reads on Tata, Adani and Birla group capex appetite.
What happened
Brokers update calls on conglomerate-linked stocks: HSBC initiates buy on SRF, Jefferies bullish on Grasim citing capital availability, Nomura sees Adani Ports
Why this matters
With Jefferies highlighting Grasim's firepower and Nomura flagging Adani Ports' Europe push, expect conglomerates to be more aggressive bidders in retail-adjacent M&A and infrastructure tie-ups over the next two quarters.