Buy, Sell or Hold: Nuvama maintains buy on NBCC India; Citi recommends buy on BEL

Brokerages see opportunities in defence, pharma, and infrastructure. Nuvama backs NBCC India with a target of Rs 139. Citi remains bullish on Bharat Electronics with a target of Rs 525. Elara Securities reiterates Lupin Limited as Accumulate with a target of Rs 2,447. These recommendations factor in future growth potential.