Brokerage activity was high ahead of Tuesday’s trade, with multiple heavyweights and mid-cap counters seeing fresh ratings, target revisions, and outlook updates.
Hindalco share: Kotak Institutional Equities downgraded to Reduce and cut the target price to ₹705, citing lower-than-expected 1QFY26 adjusted EBITDA due to weak margins and shipments, and warning of underestimated demand risks from elevated US tariffs. CITI maintained Buy with a ₹800 target, noting a 17% YoY drop in Novelis’ EBITDA but stable scrap prices. Jefferies retained Hold with a ₹690 target, flagging rising tariff impact to ~$60 million in 2Q. CLSA maintained Outperform with an ₹850 target, expecting low profitability in the near term but recovery in 4Q. Nuvama maintained Buy with a ₹776 target, forecasting that EBITDA bottomed in Q1.
Lemon Tree share: Macquarie maintained Outperform with a ₹200 target after a strong quarter led by robust RevPAR growth at Aurika Mumbai and unveiling of a 5-year expansion plan aiming to double room count.
Hyundai share: Goldman Sachs initiated coverage with a Buy and ₹2,600 target, expecting the automaker to outpace peers in FY27–FY28 on the back of successful EV launches, market share gains, and a positive SUV/export mix.
Astral share: Jefferies retained Hold at ₹1,565, citing a Q1 miss on sales and margins in both pipes and adhesives segments. Morgan Stanley maintained Equal Weight with a ₹1,489 target, noting flat pipes volumes and sharp margin compression. CLSA held Hold at ₹1,515, pointing to PVC price impact but highlighting July’s rebound in piping volumes.
Titagarh Rail share: Morgan Stanley maintained Overweight with a ₹1,027 target despite a 24% revenue miss, citing weak freight volumes but stronger passenger segment margins.
Info Edge share: HSBC upgraded to Buy with a ₹1,670 target, viewing 1QFY26 weakness as cyclical and expecting long-term growth to remain in low-to-mid teens.
Belrise share: Jefferies maintained Buy at ₹135, noting a strong 1Q with EBITDA up 17% YoY and revenues rising 27%.
HCL Tech share: Jefferies maintained Buy at ₹1,850, highlighting steady demand and increased AI investments that may compress FY26 margins but support FY27 recovery.
Concord Biotech share: Jefferies maintained Hold at ₹1,600 after a sharp Q1 miss, cutting FY26–28 EPS estimates. CITI stayed Neutral with a ₹1,880 target, citing margin pressure from its new injectable facility.
Entero Healthcare share: Jefferies retained Hold at ₹1,350 following Q1 misses due to higher costs, with the company signalling more selective future acquisitions.
Disclaimer: The above views are those of the respective brokerages. This update is for news reporting purposes only and does not constitute investment advice.
