1 day Ago By NDTV Profit Desk
Tata Consumer Products Ltd., Hindalco Industries Ltd., UPL Ltd.
and Star Health and Allied Insurance Co. were among the top companies on brokerages' radar on Wednesday.Further, JPMorgan in its note said that the fourth quarter of the previous fiscal would see uncertain macro impact and the financial year 2026 guides will reflect this new reality.
In addition, Bernstein expects earnings growth to moderate for the companies post fiscal 2027 once their capacity comes online and supply glut hits.NDTV Profit tracks what analysts are saying about various stocks and sectors. Here are the analyst calls to keep an eye out for on Wednesday.
JPMorgan On IT SectorThe market is focused on financial year 2026 guidance as another modest year is expected for the IT sector. Fourth quarter earnings will reflect an uncertain macroeconomic impact. Growth acceleration is unlikely in financial year 2026, with base-case expectations remaining modest.
Revenue forecasts for financial year 2026-2027 are being adjusted downward by 3-5% for Tier 1 companies and 2-10% for tier 2 firms. JPMorgan's top IT picks are Coforge Ltd., Infosys Ltd.
, Tech Mahindra Ltd., LTIMindtree Ltd., and KPIT Technologies Ltd.
, while top avoids include Tata Consultancy Services Ltd., Wipro Ltd., HCLTech, Tata Tech, and Tata Elxsi Ltd.
JPMorgan is looking for potential relief rallies in beaten-down IT stocks.Price target changes: TCS – Neutral rating; target cut to Rs 3,900 from Rs 4,500. Infosys – Overweight; target slashed to Rs 1,900 from Rs 2,350.
HCLTech – Downgraded to 'neutral' from 'overweight'; target cut to Rs 1,700 from Rs 2,200. Wipro – Neutral rating with target cut to Rs 260 from Rs 290. Tech Mahindra – Upgraded to 'neutral' from 'underweight', target at Rs 1,500.
LTIMindtree – Overweight, target cut to Rs 5,400 from Rs 6,700. Mphasis – Overweight rating, target cut to Rs 2,900 from Rs 3,400. Coforge – Overweight, target cut to Rs 10,400 from Rs 11,500.
Persistent – Overweight, target cut to Rs 6,500 from Rs 7,200. L&T Tech – Has 'overweight', target at Rs 5,300. KPIT Tech – Overweight, target cut to Rs 1,700 from Rs 1,900.
Tata Elxsi – Underweight, target cut to Rs 4,500 from Rs 5,400. Tata Tech – Underweight, target cut to Rs 610 from Rs 750. Cyient – Overweight, target at Rs 1,750.
Indegene – Neutral, target at Rs 650. Sagility – Overweight, target at Rs 55. IKS – Neutral, target at Rs 1,300.
Infosys To LTIMindtree: Goldman Sachs Sees Bleak Indian IT GrowthBernstein On Solar PVBernstein initiates coverage on Waaree Energies Ltd. and Premier Energies Ltd., assigning 'underperform' ratings with target prices of Rs 1,902 and Rs 693, respectively.
The solar PV sector is currently experiencing cyclical trends, making it a better time to sell rather than buy. The domestic market is facing an oversupply situation. Export opportunities are expected to last only one-two years.
Earnings growth is likely to moderate for these companies post-FY27, once additional capacity comes online and the supply glut intensifies. Waaree and Premier are unlikely to compete effectively against larger players in the long term. Jefferies On CementCement volume growth is expected to accelerate in fourth quarter, compared to the 6-7% year-on-year growth in third quarter.
Average fourth quarter prices are estimated to be ~2% higher quarter-on-quarter, with March prices remaining flat month-on-month despite year-end volume push. Prices in the North and Central regions have been stronger than anticipated. Dealers across regions indicate that price hike attempts are likely in April.
A price increase of approximately Rs 10 per bag is expected in April to offset rising petcoke fuel costs.Morgan Stanley On Auto SalesMarch auto sales showed strong performance in the four-wheeler segment, while two-wheelers lagged. Passenger vehicle sales improved due to higher discounts and pre-buying before price hikes.
Rural demand trends remained positive, and exports across OEMs showed strong growth. In wholesale figures, Ashok Leyland, TVS, and Eicher Motors emerged as key positives. Electric two-wheeler penetration increased due to pre-buying ahead of the reduction in incentives from April 2025.
Electric passenger vehicle penetration improved by 50 basis points month-over-month, but competition in the segment is rising.Auto Sales In March 2025 Live: Tata Motors Flat, Hyundai Dips, M&M SurgesGoldman Sachs On Tata ConsumerGoldman Sachs has upgraded Tata Consumer Products from 'neutral' to 'buy' and has raised the target price from Rs 1,040 to Rs 1,200. The company is expected to experience an earnings inflection, leading to strong EPS growth from financial year 2025 to financial year 2027.
Growth in the business will be driven by innovation and expansion in distribution. The salt segment is a medium-term play for market share gains and premiumisation. Growth businesses will scale up through innovation and enhanced distribution over the next three years.
HSBC On UPLHSBC maintained its 'buy' rating on UPL and increased the target price from Rs 740 to Rs 800. The company is breaking away from past challenges, with a recovery and deleveraging process underway. UPL is likely to enter a virtuous cycle, creating value in the process.
Historical valuation analysis suggests there is potential for unlocking value. The company is expected to end the year closer to its FY25 Ebitda guidance. The valuation of the seeds vertical has been increased following a recent stake sale.
Bharat Forge To UPL — A Guide To Indian Stocks Under Trump's Tariff ThunderJPMorgan On HindalcoJPMorgan maintained its 'overweight' rating on Hindalco, with a target price of Rs 670. Management remains committed to medium-term growth and profitability goals. Novelis aims to achieve cost savings of over $300 million by FY28 and beyond.
Hindalco's India business continues to perform well across key metrics.Nuvama On Star HealthNuvama upgraded Star Health to 'buy' from 'neutral' but reduced the target price from Rs 490 to Rs 440. The stock has seen a sharp decline over the last eight months, making it an attractive buying opportunity.
Corrective actions such as retail portfolio repricing and selective underwriting in group business are expected to reduce loss ratios. Retail new business growth momentum is expected to remain strong. Operational efficiency improvements will drive better cost ratios.
Stricter enforcement of Expense of Management norms may reduce competitive intensity in the sector. The implementation of a composite license regime remains a key factor to monitor.Stock Market Live: Nifty, Sensex Higher At Pre-Open; SJVN, JSW Energy, Dabur India In Focus .
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