Several key stocks are likely to remain in focus on Thursday, May 2, 2025, following a wave of fresh brokerage calls and target price revisions by leading global and domestic research firms. Adani Ports, Indus Tower, Vedanta, and IOC received multiple positive endorsements, while outlooks remained mixed for Federal Bank, Eternal (formerly Zomato), and Bandhan Bank.
Adani Ports emerged as a top pick, with Jefferies raising its target price to ₹1,475 from ₹1,340 while maintaining a ‘Buy’ rating. Goldman Sachs also reiterated a ‘Buy’ with a revised target of ₹1,400, up from ₹1,320. Morgan Stanley maintained its ‘Overweight’ stance, raising the target to ₹1,481 from ₹1,418.
Indus Tower received bullish calls from multiple institutions. CLSA retained its ‘Buy’ rating with a target of ₹595, while Citi and JP Morgan also maintained their positive stance with targets of ₹485 and ₹490, respectively. However, Jefferies maintained an ‘Underperform’ view on the stock with a revised target of ₹345.
Vedanta was also in favour, with CLSA and Citi both maintaining their ‘Buy’ ratings and setting target prices of ₹535 and ₹500, respectively.
Indian Oil Corporation (IOC) received an upgraded target from Jefferies at ₹160, with the brokerage maintaining its ‘Buy’ rating, indicating a continued positive view on the PSU oil major.
The sentiment was more measured for Eternal, the rebranded entity of Zomato. Nomura and Citi maintained a ‘Buy’ rating with targets of ₹280 and ₹290 respectively. Meanwhile, Jefferies downgraded the view to ‘Hold’ and trimmed its target to ₹250. Morgan Stanley stayed ‘Overweight’ but slashed the target to ₹290 from ₹340.
In the financial sector, views on Federal Bank were divided. While Citi and Nomura retained ‘Buy’ ratings with targets of ₹235 and ₹220, Morgan Stanley downgraded the stock to ‘Underweight’ with a target of ₹160.
Bandhan Bank saw a mixed outlook as well. Jefferies maintained a ‘Buy’ with a ₹195 target, whereas Nomura and UBS stayed ‘Neutral’, assigning a lower target of ₹165.
Other notable brokerage calls include:
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Sona BLW: Jefferies issued both a ‘Buy’ (TP ₹565) and a ‘Neutral’ (TP ₹490) stance.
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Exide: JP Morgan and Citi both retained an ‘Overweight’ rating while cutting targets to ₹420 and ₹460, respectively.
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JSPL: Citi maintained a ‘Sell’ with a raised TP of ₹800; Morgan Stanley stayed ‘Equal Weight’ with a TP of ₹900.
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Varun Beverages (VBL): Citi maintained ‘Buy’ at ₹725; JP Morgan revised target lower to ₹625 while retaining ‘Overweight’.
The flurry of brokerage activity comes as markets digest earnings announcements and macro signals from global economies, keeping these stocks in sharp focus during today’s trade.
Disclaimer: This article is for informational purposes only. It is not intended as investment advice. Readers are advised to consult certified financial advisors before making any investment decisions.
