Brokerage commentaries released on Tuesday highlighted multiple stock-specific and sectoral themes that could drive investor sentiment. Here are the key updates:
Citi maintained a buy rating on Nuvoco with a target price of ₹475 per share, citing a positive stance on the cement player. HSBC reiterated its buy on Bharti Airtel with a target price of ₹2,200 per share, while Morgan Stanley kept an overweight rating on Reliance Industries with a target of ₹1,701 per share.
Motilal Oswal Securities (MOSL) upgraded Phoenix Mills to a buy, raising its target price to ₹2,044 per share, while CLSA retained its outperform view on Bajaj Finance with a target price of ₹1,150 per share. Nuvama maintained a buy on Asian Paints with a revised target of ₹2,935 per share.
In sectoral calls, Antique Stock Broking flagged that power demand rose 4% year-on-year in August 2025 and noted attractive valuations in the sector, at 35–40% below peak. It highlighted Power Grid and CESC as key beneficiaries. CLSA, in its consumer note, observed Blinkit’s rapid expansion versus consolidation by Swiggy and Zepto, with profitability expected to improve across players. The brokerage maintained a high conviction outperform rating on Eternal and an outperform on Swiggy.
Jefferies reiterated its positive view on the auto sector, naming TVS, M&M, Maruti and Eicher as top buys, while MOSL pointed to green shoots with two-wheeler sales up 15% year-on-year, commercial vehicles higher by 8.4%, and tractors up 27–28%. However, it flagged weakness in passenger vehicles due to GST-related delays, keeping a neutral stance, with Maruti and M&M as preferred picks.
On broader strategy, HSBC said tariffs are unlikely to derail markets given the limited direct impact on listed companies. Goldman Sachs, assessing the upcoming GST Council meet, said consumption-driven growth could be positive for consumer names like Nestle, Emami, Dabur, HUL, Britannia and GCPL. Jefferies also weighed in, noting that conversion of the “GST cess” into GST should aid rationalisation without materially impacting fiscal balances.
In real estate, Nuvama reported that Mumbai housing sales dipped in August 2025 but year-to-date volumes remain at record highs, keeping its stance neutral. In IT, HSBC maintained a hold on Coforge with a target price of ₹1,850 per share.
Disclaimer: This article is based on brokerage views as cited. The views expressed are those of the brokerages and do not represent investment advice.
