Brokerage houses issued a series of recommendations across several Indian companies and sectors, with positive views emerging on stocks such as Lenskart, Suzlon, Tata Consumer, Reliance Industries and Adani Energy, while a few downgrades were also seen in select names.
Goldman Sachs initiated coverage on Lenskart with a buy rating and a target price of ₹635 per share, signalling a positive stance on the company. The brokerage also maintained a buy rating on Tata Consumer, assigning a target price of ₹1,425 per share.
Motilal Oswal maintained its buy rating on Suzlon with a target price of ₹66 per share. The brokerage also reiterated its buy call on LG Electronics, raising the target price to ₹1,860 per share.
JP Morgan maintained an overweight rating on Premier Energy with a target price of ₹915 per share. The brokerage also maintained an overweight stance on Groww with a target price of ₹210 per share, and on Shadow Fax with a target price of ₹180 per share.
JM Financial reiterated its buy recommendation on Adani Energy, assigning a target price of ₹1,199 per share.
CLSA maintained an outperform rating on Reliance Industries with a target price of ₹1,800 per share.
Morgan Stanley upgraded Marico to overweight and raised the target price to ₹934 per share. The brokerage also upgraded Nestlé to equal weight, with the target price increased to ₹1,370 per share, while maintaining an overweight stance on Cyient with a target price of ₹1,500 per share. In addition, Morgan Stanley maintained an equal weight rating on Delhivery, raising the target price to ₹470 per share.
JP Morgan upgraded Dalmia Bharat to neutral with a target price of ₹2,215 per share.
In the defence sector, Goldman Sachs highlighted that the Ministry of Defence has signed orders worth ₹50.8 billion for the acquisition of six Advanced Light Helicopters (ALH) Mk-III in the maritime role. The brokerage retained buy ratings on Solar Industries, Bharat Electronics and PTC Industries.
Jefferies noted that the India auto industry recorded double-digit wholesale and registration growth across segments in February, estimating that industry wholesales rose 31–38% year-on-year for two-wheelers, trucks and tractors, and around 10% for passenger vehicles.
Citi, after meeting distributors across FMCG categories in Lucknow, highlighted Britannia, Godrej Consumer Products and Varun Beverages as top buys, while ITC, Colgate India and United Breweries were identified as top sells.
On the macro front, Citi said fiscal intervention to stabilise retail fuel prices could allow the Reserve Bank of India to prioritise growth over inflation. Jefferies added that recent developments could have immediate negative implications for oil marketing companies, travel and hospitality companies and rate-sensitive stocks, while the defence sector could see positive momentum.
JP Morgan noted that the Middle East conflict could have implications for Indian metals and mining stocks, while CLSA warned that prolonged tensions in the region could keep crude oil prices elevated for a longer period.
Citi also highlighted risks in the oil and gas segment, stating that among city gas distribution companies, Gujarat Gas could face higher risk due to its dependence on both Qatar and spot LNG supplies. Kotak Institutional Equities added that the Iran-US conflict could increase macro and market headwinds for India.
Among other stock-specific calls, HSBC maintained a reduce rating on DMart with a target price of ₹3,500 per share. Kotak maintained a buy rating on Swiggy, cutting the target price to ₹400 per share, and also retained a buy rating on Eternal, lowering the target price to ₹375 per share.
Macquarie maintained an outperform rating on Larsen & Toubro with a target price of ₹4,910 per share, while CLSA also maintained an outperform stance with a target price of ₹4,842 per share.
Kotak maintained a sell rating on GAIL with a target price of ₹145 per share.
In the aviation sector, HSBC cautioned that apart from direct losses due to flight cancellations, any sharp rise in oil prices could also impact airline profitability.
Meanwhile, Morgan Stanley downgraded Godrej Consumer Products to equal weight and cut the target price to ₹1,159 per share.
Disclaimer: The information provided in this article is for informational purposes only and reflects brokerage views and market updates based on the inputs available. It should not be construed as investment advice or a recommendation to buy or sell any securities. Readers are advised to conduct their own research or consult a qualified financial advisor before making any investment decisions.