Brokerages have shared fresh views on key Indian stocks on Wednesday, with HDB Financial Services, Hero MotoCorp, Asian Paints, and KPIT Technologies among the top names in focus.
Emkay Global has initiated coverage on HDB Financial Services with a ‘buy’ rating and a target price of Rs 900 per share. The brokerage cited the company’s strong business model, clear execution, and external growth drivers as key positives. Emkay expects HDB Financial to deliver 20% AUM growth and 27% EPS CAGR over the next three years, backed by sustained profitability improvements and internal execution strength.
For Hero MotoCorp, brokerage views remain divided. Morgan Stanley has maintained an ‘underweight’ rating with a target price of Rs 3,765, citing cautious optimism after the launch of the Hero Vida VX2 electric scooter. It noted that while the Vida VX2 launch is impressive and differentiated, customer response in key urban markets will be critical. Meanwhile, Citi has maintained a ‘buy’ rating on Hero MotoCorp with a target price of Rs 4,900, highlighting the company’s competitive pricing and a differentiated Battery-as-a-Service (BaaS) model that could drive volume growth.
In the auto sector overall, Jefferies pointed to divergent trends in June sales data. It reported strong year-on-year growth for TVS Motor, Eicher Motors, and Mahindra & Mahindra (M&M), while passenger vehicle players like Hyundai, Maruti Suzuki, and Tata Motors reported volume declines of 6-11%. Morgan Stanley flagged that channel destocking impacted passenger vehicle sales, while two-wheeler volumes grew in mid-single digits.
Asian Paints remained under brokerage watch after the Competition Commission of India (CCI) ordered a detailed probe into alleged anti-competitive practices following a complaint by Grasim Industries. Investec retained a ‘sell’ rating on Asian Paints with a target of Rs 2,080, warning that if the CCI ruling favors Grasim, it could ease entry barriers for new players. Goldman Sachs also maintained a ‘sell’ with a target of Rs 1,966.
Meanwhile, Goldman Sachs cut its target price on KPIT Technologies to Rs 1,230 from Rs 1,280, maintaining a ‘neutral’ stance. It expects a subdued start to FY26 amid ongoing global tariff uncertainties, with no major deal closures in the near term.
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