Macquariehas maintained its ‘outperform’ rating on Titan with a target price of Rs 4,000. Analysts said that the company in the Jan-March period reported healthy jewellery sales growth that was above estimates. The growth was led by double-digit growth in ticket size with single-digit buyer growth. They said Titan’s healthy growth in Q4 was encouraging and enhances confidence in their earnings per share (EPS) estimates.
BoFASecurities has given a ‘neutral’ rating on Tata Motors with a lower target price of Rs 655. Analysts said for the Jan-march period, JLR reported good updates but it didn’t matter anymore since the new tariff proposals in the US and the related pause in sales volumes created uncertainty for the near term on its business and cash burn. They said India business was valued at Rs 475/share and possibly a bear case but JLR does not warrant zero value fundamentally. Key factors to watch out for are India-UK bilateral trade deals, support and pricing actions by its competitors.
CLSAhas given an ‘outperform’ rating on Bajaj Finance with a target price of Rs 11,000. Analysts said FY25 saw slower growth and moderated return on equity due to higher credit costs. With asset quality improving, they expect strong growth from FY26.
Morgan Stanley has an ‘equal weight’ rating on Macrotech Developers with a target price of Rs 1,230. Analysts expect the company’s FY26 growth would be driven by new projects in Pune and Bangalore. Although the company’s pre-sales for Jan-march missed estimates, collections were strong.
Goldman Sachs has a ‘buy’ rating on Piramal Pharma with a target price of Rs 275. Analysts believe the company is positioned for top-quartile profit growth. Its profit-before-tax margin is expected to rise from about 3% in FY24 to over 16% by FY28. Its growth drivers would be CDMO business, capacity expansion and turnaround of ICH business.
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