Indian equities are likely to see stock-specific action today as top brokerages and fund houses released fresh recommendations across financials, auto, and consumer sectors.
UBS retained a buy call on Canara Bank with a target price of ₹150 per share, citing improved profitability outlook, while maintaining a neutral stance on PNB and Union Bank, both with targets of ₹120 and ₹150 respectively. The brokerage also reiterated a buy on IGL with a target of ₹250 per share.
Investec maintained a buy call on Petronet LNG, assigning a target of ₹400 per share, reflecting optimism over long-term energy demand trends.
In the realty space, Jefferies and Nomura remained upbeat on Lodha Developers, with respective target prices of ₹1,625 and ₹1,450 per share, highlighting continued pre-sales growth momentum and robust execution.
In the consumer sector, Morgan Stanley (MS) maintained an overweight call on Titan Company with a target price of ₹3,953 per share, while JP Morgan kept a neutral stance with a target of ₹3,500. On Dabur, MS maintained underweight with a target of ₹400 per share, and UBS retained a sell call with a target of ₹500.
Morgan Stanley and Nuvama stayed positive on Godrej Consumer Products, with target prices of ₹1,413 and ₹1,450 respectively, pointing to strong brand recovery despite near-term margin pressures.
Nomura reiterated a neutral view on Tata Motors with a target of ₹732 per share, tracking JLR’s weaker Q2 volume performance. Meanwhile, HSBC maintained a reduce call on Avenue Supermarts (DMart) with a target of ₹3,700 per share, citing muted near-term growth.
Sector-wide, CLSA noted that the RBI’s draft circular could generate positive sentiment for banks and SBI Cards, while Citi highlighted that reduced risk weights across products may improve capital adequacy ratios. MS, in its India strategy note, added that financials and energy have seen the highest positive earnings revisions over the past three months.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
