Ahluwalia Contracts

Reliance Securities is bullish on the stock of Ahluwalia Contracts and has placed a buy rating on the stock.

"We expect Ahluwalia Contracts to secure decent orders on the back of likely up-tick in the affordable housing and institutional segments. We continue to maintain our positive view on the company mainly on the back of: (1) asset light business model; (2) strong balance-sheet (D/E at 0.2x); (3) best-in-class return ratios; and (4) no equity commitment unlike several other construction companies. Given the correction in the stock over last two months, current valuation 14.3x FY19 EPS looks reasonable. We upgrade our recommendation on the stock to "buy" from "hold" with an unrevised target price of Rs 320," the firm has stated in its report. Check stock quote of Ahluwalia Contracts

Tata Power

Another stock that Reliance Securities is bullish on is the stock of Tata Power (TPCL) and has a "buy" rating on the stock with a target price of Rs 88.

"We expect that the lower earnings from Mundra UMPP will continue to weigh on the overall earnings of Tata Power. However, TPCL is taking measures to reduce generation cost through alternate fuel sources and monetisation of non-core investments. We reiterate our "buy" recommendation on the stock with a revised target price of Rs 88," the firm has said in its research report. Shares in Tata Power closed at Rs 77 on the National Stock Exchange. Check stock quote of Tata Power

CG Power

Reliance Securities has a "hold" call on the stock of CG Power. "CG Power's consolidated earnings owing to low base and exit from loss-making overseas power business in Hungary and Belgium, which have been dragging the Company's profitability. Expecting a successful exit from loss-making overseas assets, we change our recommendation on the stock to "hold" from reduce with an upwardly revised target price of Rs 78 based on 22x P/E of FY19E EPS of Rs 3.5," Reliance Securities has stated.

The stock last closed at Rs 79.60 on the National Stock Exchange. Check stock quote of CG Power here

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