Indian equities are set for a session where brokerages have highlighted several stocks and sectors with a mix of positive, neutral, and cautious views. A cluster of reports point to strength in IT, autos, real estate, and consumer plays, while selective concerns remain in energy and industrial names.
Global brokerage CLSA has initiated coverage on Coforge with an Outperform rating and a target price of ₹2,346 per share, citing strong fundamentals in the IT services space. Morgan Stanley also retained its positive stance on Coforge with an Overweight rating and a target of ₹1,880 per share. The optimism on IT extended to MPhasis, where Morgan Stanley reiterated its Overweight call with a target price of ₹3,625 per share.
In the financial space, Morgan Stanley retained an Overweight rating on Kotak Mahindra Bank with a target price of ₹2,600 per share, reflecting confidence in the bank’s steady operating performance. The brokerage also reiterated its Equal-weight stance on Lupin at a target of ₹2,096, while Nomura maintained its Buy rating on the same stock with a higher target of ₹2,350 per share, following the company’s recent acquisition strategy.
Oil marketing companies received strong backing from Citi, which maintained Buy ratings on Hindustan Petroleum (₹530 target), BPCL (₹440 target), and IOC (₹190 target). UBS expressed confidence in the consumer internet space, reaffirming its Buy rating on Swiggy with an upward revision in target to ₹580 per share and also raising its target price on Eternal to ₹400 with a retained Buy call.
Emkay Global reiterated its Buy rating on Ethos with a target of ₹3,500, while Goldman Sachs retained its positive view on IndiGo with a Buy and a target price of ₹6,000 per share. Motilal Oswal remained constructive on Astral, maintaining a Buy with a target of ₹1,650, while Nomura highlighted Anant Raj with a Buy call and a target price of ₹700, noting investor interest in the real estate and data centre space.
On the broader consumer sector, Nuvama pointed out short-term headwinds due to GST transition issues, estimating an adverse impact of 2–3% on volumes and sales as trade hesitates to stock higher-priced inventory. However, the brokerage continues to back top consumer names including Bikaji, Britannia, Nestle, HUL, and Tata Consumer as preferred picks.
Jefferies maintained its positive stance on real estate, noting that developers are poised for another strong quarter, with DLF, Lodha, and Godrej Properties among its preferred names. BofA Securities turned constructive on the auto sector, pointing out that tractors are on a strong upcycle and commercial vehicles are bottoming out heading into FY26. Goldman Sachs, however, flagged emerging export weakness in industrials while domestic demand remains steady. The brokerage advised a Buy on KEI, a Sell on Dixon, and remained Neutral on Polycab.
Among energy names, Citi maintained its Sell rating on ONGC with a target price of ₹205, while BofA cut its stance on Larsen & Toubro, downgrading the stock to Underperform with a target price of ₹3,700. HSBC initiated coverage on Indus Towers with a Reduce rating and a target price of ₹310. Jefferies reiterated its Reduce rating on Tata Motors with a target of ₹575, while Nuvama also maintained a Reduce with a higher target of ₹680, reflecting a cautious stance on valuations.
In other coverage, Jefferies retained a Hold rating on Welspun Enterprises with a target of ₹120, while Motilal Oswal stayed Neutral on TCI at ₹730 and on Nestle at ₹1,300. Macquarie reiterated its Underperform rating on HDFC Life with a target of ₹700, reflecting caution in the insurance space.
With most brokerages leaning positive on IT, select financials, real estate, aviation, and consumer names, the day’s trade is likely to see action in these sectors, while industrial and energy stocks could remain under pressure amid mixed cues.
Disclaimer: The views and investment ratings mentioned are those of the respective brokerages. This article does not constitute investment advice. Readers are advised to consult their financial advisors before making any investment decisions.