Citi has raised its target price for Indigo to Rs 5200/Sh and maintains a Buy rating on the company. They also maintain a Buy rating on Federal Bank with a target price of Rs 242/Sh.
Jefferies is positive on M&M, maintaining a Buy rating with a target price of Rs 4075/Sh. Similarly, MS is positive on Cyient, with an Overweight rating and a target price of Rs 1750/Sh.
Nomura believes that the EV policy will accelerate adoption in the Auto sector and Tesla’s entry will benefit suppliers like Sona Comstar, Sansera, and Motherson Sumi.
CLSA is positive on the IT sector, noting improving demand drivers and the revenue potential of GenAI. They also have top upgrades for DLF, Muthoot Finance, and ONGC in their India Strategy.
However, CLSA remains neutral on the overall market sentiment, with concerns about notable EPS cuts despite better-than-expected 3Q results. They also highlight concerns in the Pharma sector due to US tariff issues.
When it comes to the Auto sector, CLSA believes that Tesla’s entry into India will not impact major players like Maruti, Hyundai, and Tata, and expects the premium car market to benefit.
GS and Bernstein have mixed views on M&M, with GS maintaining a Buy rating and a target price of Rs 3800/Sh, while Bernstein has an Outperform rating with a target price of Rs 3650/Sh.
CLSA, on the other hand, has downgraded Zomato, PVR Inox, and Bandhan Bank in their India Strategy, indicating a negative outlook for these companies.
Lastly, Incred has downgraded SBIN to Hold and cut its target price to Rs 795/Sh from Rs 1100/Sh, citing negative factors affecting the bank.
