Brokerage activity remained upbeat on several frontline and midcap stocks across sectors, with fresh recommendations and target revisions pouring in from top global and domestic fund houses. Defence, consumer durables, cement, agri inputs, and aviation were among the sectors under positive spotlight.
Defence & Industrials:
JP Morgan retained its Overweight rating on Bharat Electronics Ltd (BEL) while raising the target price to ₹490 from ₹445, citing continued growth potential in the defence electronics space. Jefferies also highlighted HAL, Data Patterns, and BEL as its top defence picks, reinforcing sector-wide confidence.
Consumer & Retail:
Metro Brands received a Buy rating from Emkay with a target of ₹1,400/share. Meanwhile, CLSA maintained Outperform on Nykaa with a ₹229 target, reflecting optimism over the platform’s evolving beauty and fashion strategy. Page Industries saw a Buy initiation by Goldman Sachs with a steep target of ₹52,000, underlining a bullish stance on premium innerwear and athleisure trends.
Cement:
Macquarie turned selectively bullish in the cement space, maintaining Outperform on Ultratech Cement (TP raised to ₹13,008), Dalmia Bharat (TP ₹2,353), and Ambuja Cement (TP ₹608). It retained Neutral on Shree Cement, with a revised target of ₹28,630, and cut its target for ACC to ₹2,117.
Consumer Durables & Agri Inputs:
Macquarie believes Cables & Wires (C&W) will lead demand recovery in FY26, with Havells India as a top preference. HSBC maintained a positive outlook on agri input names with early monsoon trends looking robust—UPL and Dhanuka Agritech were listed as preferred picks.
Aviation & Financials:
Jefferies backed IndiGo to consolidate its market leadership in aviation, while on consumer finance, it noted a slowdown in credit card spends month-on-month. However, SBI Card gained 17% market share with 23% YoY growth. The brokerage remained Neutral on the stock.
Pharma & IT:
Jefferies retained an Underperform on Dr. Reddy’s Labs, target price at ₹1,010. HSBC maintained a Buy on Aurobindo Pharma but trimmed the TP to ₹1,290.
Tech & Auto Engineering:
KPIT Technologies saw mixed commentary. While Morgan Stanley retained Overweight with a TP of ₹1,500, Kotak maintained a Sell with a reduced TP of ₹1,000, reflecting diverging outlooks on the engineering services player.
Metals:
Nuvama reaffirmed its Buy call on JSPL, setting a target of ₹1,193 per share, highlighting strong prospects in steel demand and operational leverage.
Disclaimer: This article is based on brokerage reports and does not constitute investment advice. Investors should consult certified financial advisors before making any investment decisions.
