Brokerage Recommendations on Various Companies
Jefferies On Crompton Consumer
Jefferies has a Buy Call on Crompton Consumer with a Target Price of Rs480. During their Analyst Meet, Crompton Management discussed new launches and innovation in the fans vertical ahead of the summer season. The company has seen significant growth in premium fans, which are now at ~25% of the overall portfolio compared to 12-15% five years ago. Crompton has also implemented multiple price hikes in recent quarters. Management expects double-digit growth in premium and BLDC fans this summer. Jefferies estimates a FY24-27 EPS CAGR of +22% with a FY26 PE at 32x.
Morgan Stanley On Crompton Consumer
Morgan Stanley has an Underweight rating on Crompton Consumer with a Target Price of Rs352. The company recently launched Nucleus, an advanced BLDC platform, and Xtech, an advanced induction motor platform, to enhance its fans portfolio. Crompton is focused on increasing its share of premium fans in the revenue mix and aims to reach 40% of the overall portfolio. Premium fans are growing at a faster rate than the average fan market growth. Morgan Stanley anticipates price hikes and operating leverage to drive EBITDA margin growth and a healthy EPS CAGR.
Nomura On Crompton Consumer
Nomura has a Buy Call on Crompton Consumer with a Target Price of Rs447. The company recently unveiled the Nucleus and Xtech platforms, which aim to drive energy efficiency and smart tech integration in the consumer electricals space. Crompton believes these platforms are scalable, durable, and more efficient than those of its peers. Nomura expects price hikes and operating leverage to boost EBITDA margin and EPS growth.
Nuvama On Crompton Consumer
Nuvama maintains a Buy rating on Crompton Consumer with a Target Price of Rs500. The company is on track with its Crompton 2.0 strategy, focusing on industry-leading PAT growth and capturing a larger share of the premium fans market. Crompton is evaluating new categories for solar pumps and aims for mid-teens growth in its Gandhimati segment.
Brokerage Calls on Coal India
Nuvama On Coal India
Nuvama has a Buy Call on Coal India with a Target Price of Rs525. Coal India arm, Northern Coalfields, has announced a levy of ‘Singrauli Punarasthapan Charge’ of Rs300/t on its entire volume from May 1, 2025. This levy is expected to boost FY26/27 EBITDA by 9-10%. Nuvama estimates a fair value increase of Rs34/sh assuming 5x EV/EBITDA multiple.
Morgan Stanley On Coal India
Morgan Stanley has an Overweight rating on Coal India with a Target Price of Rs525. The introduction of the ‘Singrauli Punarasthapan Charge’ is seen as positive, driving expected additional revenue and a potential 8% upside to FY26 earnings estimate. Coal India is forecasting 2% growth in FSA realizations.
JPMorgan On Coal India
JPMorgan maintains a Neutral rating on Coal India with a Target Price of 420 (from 395). The FSA price hike announcement is considered a positive surprise and is expected to boost FY26-27 EBITDA. Coal India faces headwinds from softening international thermal coal prices, market-share loss, weaker production growth, and evacuation challenges.
Other Brokerage Recommendations
CLSA On Bajaj Auto
CLSA has an Outperform rating on Bajaj Auto with a Target Price of Rs9473. The company expects its ICE volume to outpace industry growth, with double-digit revenue growth anticipated. Export volumes are on a recovery path as well.
