Brokerages turned their focus to key names across financials, energy, manufacturing, and healthcare on Tuesday, with several fund houses maintaining bullish stances amid steady corporate performance and improving sectoral outlooks.
Goldman Sachs maintained a buy rating on Solar Industries, raising its target price to ₹18,215 per share, citing record defence and international revenues along with margin expansion and a strong order book. The brokerage said the company’s execution strength continues to support its long-term growth outlook.
Ather Energy also remained on HSBC’s radar, with the brokerage reiterating its buy call and setting a target price of ₹700 per share. HSBC noted that the electric two-wheeler maker continues to benefit from robust sales momentum and favourable government incentives, which are likely to sustain growth.
In the energy space, Jefferies maintained its buy rating on ONGC with a target price of ₹330 per share, pointing to stable crude production and higher realizations supporting profitability. Meanwhile, Morgan Stanley retained an overweight stance on Oil India, with a price target of ₹467 per share, supported by strong upstream performance and healthy cash flows.
Among industrials, Nuvama reiterated its buy call on Greenlam Industries, raising the target price to ₹225 per share. The brokerage highlighted sustained demand in decorative laminates and positive margin trends driven by capacity expansion.
Global Health (Medanta) received a positive view from HSBC, which upgraded the stock to hold while raising the target price to ₹1,270 per share. The brokerage said stable occupancy and improving margins continue to support earnings visibility.
Financial major Bajaj Finance remained in focus, drawing attention from multiple brokerages. HSBC maintained a buy with a revised target of ₹1,200, Jefferies retained buy with a ₹1,270 target, Morgan Stanley reiterated overweight at ₹1,195, and CLSA maintained outperform with a target of ₹1,200 per share. Most brokerages cited resilient margins and robust asset quality, even as loan growth normalizes.
In the cement sector, Goldman Sachs maintained a neutral view on JSW Cement, setting a target price of ₹142 per share, noting steady operational performance but limited near-term triggers.
Among consumer-focused names, Nuvama retained its buy rating on Emami and EMART, though the brokerage cut target prices to ₹795 and ₹159 per share, respectively, reflecting short-term demand moderation.
Telecom remained in spotlight as Citi maintained its buy call on Vodafone Idea with a target of ₹14 per share, while UBS retained a neutral stance with a target of ₹9.7, awaiting clearer visibility on tariff hikes and fund infusion.
In the IT and automotive tech space, Goldman Sachs maintained a neutral view on KPIT Technologies with a target price of ₹1,150 per share, while HSBC retained its hold rating with a higher target of ₹1,270, noting strong order momentum but near-term margin constraints.
Finally, HSBC maintained a hold on Petronet LNG with a target of ₹320 per share, citing steady LNG import demand offset by regulatory uncertainties in the gas sector.
Disclaimer: The views and investment recommendations expressed above are those of individual brokerages and not of this publication. Investors are advised to consult certified financial advisers before taking any investment decisions.
