Fund houses and brokerages released a fresh set of recommendations on Tuesday, putting consumer, financials, auto and building materials stocks in focus.
Morgan Stanley upgraded Aditya Birla Fashion and Retail (ABFRL) to overweight with a target price of ₹131, highlighting long-term growth visibility in the retail segment. The brokerage also initiated coverage on Aditya Birla Lifestyle Brands (ABLBL) with an overweight rating and a target price of ₹175.
On Hindustan Unilever (HUL), Jefferies reiterated a buy with a target price of ₹3,000 per share, while Bank of America maintained a neutral stance but raised its target price to ₹2,840. The fund houses noted that steady performance in core categories and margin resilience keep the stock in focus.
In building materials, Nuvama maintained buy on Century Ply with a raised target of ₹901, citing sustained demand momentum. Nomura maintained buy on Ceat with a target of ₹4,037, expecting benefits from its acquisition of Camso’s OHT business and margin improvement from GST cuts.
In financials, Antique retained buy on Ujjivan Small Finance Bank with a target price of ₹73, as well as on Firstsource Solutions (FSL) with a target of ₹420 and CESC with a target of ₹203, underlining consistent growth potential in their respective segments.
Within autos, Morgan Stanley retained equal weight on Eicher Motors with a revised target of ₹7,201 and on Hero MotoCorp with a target of ₹5,968, reflecting balanced outlooks. On the other hand, it downgraded Bajaj Auto to underweight even as it raised the target price to ₹8,075, citing relative concerns on valuation and performance.
Among internet and consumer tech stocks, CLSA maintained outperform on Swiggy with a target price of ₹509. It also maintained outperform on Ambuja Cements with a target of ₹665, while Jefferies reiterated buy on Navin Fluorine with a higher target price of ₹6,025, citing healthy earnings visibility.
In strategy notes, Jefferies observed that momentum remains in “hibernation” in Indian markets, while compounder stocks have been the best performers this year, signaling continued investor preference for stability.
On Metro Brands, Goldman Sachs maintained a neutral stance with a target of ₹1,300, while Macquarie also kept neutral on Kotak Mahindra Bank with a target of ₹2,200. Nuvama maintained hold on Kajaria Cement with a target of ₹1,318, citing a steady but balanced outlook for the stock.
Overall, the day’s recommendations highlighted positive sentiment on select retail, consumer, auto and chemical names, alongside a more cautious tone on financials and select cement counters.
Disclaimer: The views and investment recommendations expressed above are those of the respective brokerages and fund houses. They do not represent the views of this publication. This article is for informational purposes only and is not investment advice.
