Most of the time, Brokerage reports are of not much use to Retail investors.
They will come up with BUY reports when stock is already looking fairly valued or overvalued and may not generate good returns after the BUY Call.
Motilal Oswal came up with BUY on Tech Mahindra in 2015 at 2800 (before bonus and split). After that report, Tech Mahindra reported one bad quarter and stock after split & bonus, corrected from 725 to 500 in just 3-4 months.
I was holding TechM shares at that time, so was wondering about their BUY call at P/E of > 25!! After their BUY call, TechM was available at P/E 12 within one year.
Some brokerages do in depth analysis and do generate good quality reports but those are very very few, in my opinion. I may be wrong in my analysis.
We should look at LAURUS LABS based on our own research and valuations.
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