New Delhi, May 22 -- Shares of Ashish Kacholia portfolio stock Balu Forge Industries have caught the attention of market watchers after brokerage firm Nuvama Institutional Equities initiated coverage with a 'Buy' rating and a price target of Rs.790, indicating a 30 percent upside from current levels. The optimistic outlook is driven by the company's aggressive capacity expansion, strategic entry into defence manufacturing, and efforts to diversify away from the agriculture sector.

Balu Forge's stock, which is part of ace investor Ashish Kacholia's portfolio, has already delivered over 100 percent returns in the last one year. However, after correcting 20 percent in 2025 and 25 percent from its October 2024 peak, Nuvama believes the recen...