Indian equities are expected to remain stock-specific on August 6 as multiple companies received fresh brokerage commentary following their June quarter earnings. Here’s a quick look at top stocks to watch based on brokerage views:
Bosch share: UBS maintains sell
UBS maintained a sell rating and raised the target price to ₹26,900, stating the recent rally is driven by restructuring expectations but valuations are stretched.
Gujarat Gas share: Citi maintains sell
Citi reiterated a sell call with a target of ₹410 after a weaker-than-expected Q1 EBITDA of ₹5.2bn, citing misses on both volumes and margins.
Bharti Airtel share: Morgan Stanley equal-weight, CLSA overweight
Morgan Stanley retained an equal-weight rating with TP ₹1,890, citing slight beats in revenue and EBITDA driven by the India business. CLSA maintained an outperform rating with TP ₹2,035, highlighting strong YoY growth in mobile revenue and record net additions in the homes segment.
Bharti Hexacom share: Jefferies buy, CLSA underperform
Jefferies kept a buy rating with TP ₹2,250, expecting 24%/29% CAGRs in EBITDA/FCF over FY25-28E. CLSA downgraded the stock to underperform with TP ₹1,525 due to Q1 revenue and EBITDA miss.
CONCOR share: Morgan Stanley underweight
Morgan Stanley maintained an underweight rating with TP ₹515 after Q1 revenue, EBITDA, and PAT growth missed estimates by double digits.
Navin Fluorine share: Jefferies underperform
Jefferies reiterated underperform with TP ₹2,725, citing limited earnings visibility despite better-than-expected Q1.
Torrent Pharma share: Jefferies underperform
Jefferies maintained underperform with TP ₹2,100 due to an in-line Q1 and elevated valuations.
Lupin share: Nomura buy
Nomura retained a buy rating with TP ₹2,350, citing strong US revenue and a 330 bps YoY improvement in EBITDA margin.
Exide Industries share: Nomura neutral
Nomura rated Exide neutral with TP ₹404, highlighting margin pressures and structural concerns in the Li-ion cell business.
Kansai Nerolac share: Nomura buy
Nomura reiterated a buy rating with TP ₹325, expecting volume recovery and industrial market share gains.
Britannia share: CLSA outperform, Nomura neutral, Morgan Stanley equal-weight
CLSA maintained an outperform rating with TP ₹5,973, despite margin contraction. Nomura stayed neutral with TP ₹5,875, noting weaker-than-expected Q1. Morgan Stanley held an equal-weight stance with TP ₹5,511, pointing to margin pressures and flattish PAT.
DLF share: Jefferies, BoFA Sec, Motilal Oswal, Nuvama, Antique maintain buy; Nomura neutral
Jefferies maintained a buy rating with a target price of ₹1,000, citing a strong start to FY26 and encouraging response to the Mumbai launch. BoFA Securities reiterated buy with a target of ₹945, highlighting 50% of FY26 pre-sales target already achieved and strong annuity growth. Motilal Oswal maintained a buy rating with a target price of ₹970, supported by robust Q1 pre-sales and expected rental income acceleration. Nuvama also retained buy with a TP of ₹972, citing strong execution, high cash flows and new project launches. Antique rated the stock a buy with a TP of ₹940, noting solid performance and improving rental income visibility. Nomura stayed neutral with a TP of ₹740, stating upside to FY26 pre-sales guidance is limited, though rental income is expected to grow at 15% CAGR over FY25–28F.
Berger Paints share: Morgan Stanley underweight, HSBC buy
Morgan Stanley maintained an underweight rating with TP ₹482, noting early monsoon impact and market share gains. HSBC reiterated buy with TP ₹640, expecting a double-digit recovery in H2.
Aurobindo Pharma share: HSBC buy, Motilal Oswal buy, Avendus reduce
HSBC retained a buy with TP ₹1,255, despite a Q1 miss, citing long-term EBITDA margin tailwinds. Motilal Oswal maintained buy with TP ₹1,375, highlighting strong growth in US and Europe. Avendus downgraded the stock to reduce with TP ₹1,240, concerned about base business in the US and margin pressures.
Adani Ports share: Jefferies buy, CLSA outperform
Jefferies maintained a buy rating with TP ₹1,815 after a strong Q1 EBITDA beat and improved margins. CLSA maintained outperform with TP ₹1,764, citing healthy traffic growth and improved leverage.
Gland Pharma share: Jefferies hold, Goldman Sachs sell
Jefferies upgraded to hold with TP ₹1,970, saying earnings have bottomed but valuations cap upside. Goldman Sachs kept a sell call with TP ₹1,675, noting strong Cenexi performance but weak US sales.
Alembic Pharma share: Jefferies hold
Jefferies upgraded Alembic Pharma to hold with TP ₹900, citing stronger execution and margin recovery.