Buy or sell: Stock recommendation by brokers for September 2, 2025

Kotak maintains an add rating on Reliance, anticipating significant EBITDA growth and retail expansion. Nomura reaffirms its buy rating for Ather Energy, highlighting its innovative electric scooter platform. InCred, however, re-initiates coverage on Delhivery with a reduced rating, citing potential headwinds. Morgan Stanley is overweight on Torrent Power, projecting strong returns from a new thermal power plant.