Brokerages have released fresh recommendations and target price revisions for several key stocks, spanning retail, automotive, banking, and energy sectors. Here are the major fund house updates for Monday, October 13, 2025.
HSBC on KFin Technologies: The brokerage upgraded the stock to Buy and raised its target price to ₹1,215 per share, citing strong earnings visibility and sustainable growth in the company’s core registrar and transfer agency business. (Positive)
Citi on PI Industries: The firm maintained its Buy rating with a target price of ₹4,350 per share, highlighting continued strength in the company’s custom synthesis exports and margin resilience. (Positive)
Morgan Stanley on Mahanagar Gas (MGL): Morgan Stanley reiterated its Overweight stance with a target price of ₹1,749 per share, expecting volume growth recovery and stable margins to drive earnings momentum. (Positive)
Jefferies on Eicher Motors: Jefferies maintained its Buy rating and raised the target price to ₹8,000 per share, citing robust demand for Royal Enfield motorcycles and an improving export mix. (Positive)
Jefferies on AU Small Finance Bank: The brokerage initiated coverage with a Buy rating and a target price of ₹910 per share, noting the bank’s strong liability franchise, improving margins, and steady asset quality. (Positive)
CLSA on DMart: The brokerage maintained its Outperform rating and increased the target price to ₹6,300 per share, expecting steady revenue traction and margin recovery led by store expansions. (Positive)
Motilal Oswal (MOSL) on DMart: MOSL retained its Buy call with a revised target price of ₹5,000 per share, citing consistent same-store growth and strong execution. (Positive)
Equirus on Sky Gold: The brokerage initiated coverage with a Buy rating and a target price of ₹502 per share, highlighting healthy demand trends and efficient working capital management. (Positive)
HSBC on Financials: HSBC said that the Reserve Bank of India’s proposal to reduce risk weights on certain loan categories and smoothen the Expected Credit Loss (ECL) transition is positive for the banking sector. It added that banks remain well-capitalised with Tier-1 ratios in the range of 13–24%. (Positive)
HSBC on DMart: In contrast to other brokerages, HSBC maintained a Reduce rating on the stock with a target price of ₹3,700 per share, citing concerns over elevated operating expenses and moderation in same-store growth. (Neutral)
Nuvama on DMart: Nuvama retained its Hold rating and raised the target price to ₹4,580 per share, indicating limited near-term upside as margin pressures persist. (Neutral)
Morgan Stanley on DMart: The brokerage maintained an Equal-weight stance with a target price of ₹4,552 per share, noting that competitive pressures could cap earnings growth. (Neutral)
Citi on DMart: Citi reaffirmed its Sell rating but raised its target price to ₹3,250 per share, citing subdued profitability and slower growth in revenue per square foot. (Neutral)
Jefferies on Tata Motors: Jefferies maintained its Underperform rating while raising the target price to ₹605 per share from ₹575 earlier, reflecting near-term concerns on volume recovery and JLR performance. (Neutral)
Nomura on Phoenix Mills: Nomura maintained a Reduce rating with a target price of ₹1,350 per share, citing moderation in consumption growth and valuation constraints after the stock’s recent rally. (Neutral)
Disclaimer: This article is for informational purposes only and not a recommendation to buy or sell any securities. Brokerage views and target prices are based on their respective research reports and publicly available information.
