Nuvama initiates coverage on SG Mart, Siemens Energy India with Buy; sees up to 21% upside

Nuvama Institutional Equities initiated coverage on SG Mart and Siemens Energy India with Buy ratings. The brokerage set target prices of Rs 777 and Rs 4,200, seeing up to 21% upside. Nuvama said the company is "Erecting a manufacturing legacy," as strong growth and better profits helped shares gain on Thursday.