Brokerages have issued fresh calls and revised targets for several key companies, with updates spanning the auto ancillary, healthcare, pharma, defence, energy, and consumer sectors.
Minda Corp share: Nuvama maintained a Buy rating but cut the target price to ₹590 from ₹630, citing strong revenue and EBITDA growth in Q1 driven by wiring harness and other segments. Order wins stood at ₹1,300 crore, with over 30% from EVs. The brokerage trimmed FY26/27 EBITDA estimates by 2%/5%, building in a revenue/EBITDA CAGR of 12%/15% over FY25–28.
Apollo Hospitals share: Nomura maintained a Neutral rating with a target price of ₹6,856. Q1 revenue was in line, while EBITDA beat estimates, led by 11% YoY growth in hospital revenues and margin improvement of 89 bps. Occupancy fell 300 bps YoY to 65%, while HealthCo revenues grew 19% YoY.
Alkem Labs share: Nomura maintained Buy with a target of ₹5,430 after Q1 sales, EBITDA, and profit exceeded estimates by 4%, 25%, and 44%, respectively. HSBC maintained Hold with a revised target of ₹4,910, noting a margin beat but cautioning on cost drag from new businesses.
Nykaa share: Nomura kept a Neutral call, raising the target price to ₹223 from ₹216. Strong growth in customers and AOV was offset by margins trailing estimates. Higher lease expenses led to FY26/27 EPS cuts of 13%/10%.
Zydus Lifesciences share: Nomura maintained Buy with a ₹1,140 target after Q1 sales beat estimates by 6%. HSBC maintained Hold with a target cut to ₹920 from ₹935, citing US sales concentration risk despite stable guidance.
HAL share: Nomura maintained Buy with a ₹6,100 target, highlighting strong order book visibility and on-track project execution, projecting 24% PAT CAGR over FY25–28.
ONGC share: Jefferies reiterated Buy with a ₹360 target as Q1 standalone EBITDA was in line, with PAT slightly below estimates. Consolidated performance met expectations.
NHPC share: CLSA kept a high-conviction Outperform call with a ₹117 target, citing improved water availability, project starts, and a forecast of 114% REE growth over FY25–28.
Honasa share: CLSA upgraded to Outperform and raised the target price to ₹333 on Q1 EBITDA margin beat and management guidance for sustained margin expansion.
Paytm share: Citi maintained Buy with a ₹1,215 target and Bernstein retained Outperform with a ₹1,100 target after RBI granted in-principle approval to its subsidiary to operate as an online payment aggregator, removing a major regulatory overhang.
Disclaimer: The above views are those of the respective brokerages. This update is for news reporting purposes only and does not constitute investment advice.
