Swiggy and Eternal will continue to dominate the food delivery business. Buy Swiggy for target price ₹500 & Eternal for target price ₹315: Nirmal Bang

We believe Swiggy and Eternal will continue to dominate the food delivery business. On the demand side of the equation, variables such as platform preferences and assortment mix are firmly in favor of the incumbents. These strengths are likely to sustain the leadership of incumbents despite the vulnerabilities that remain on the supply side of the equation. While there has been continuous innovation around assortment and delivery timelines, affordability is an area with room for further innovation but discounting is not the key

360ONE offers a compelling structural growth story anchored in India’s expanding wealth and asset management market. Buy for target price of ₹1450 (20% upside): Motilal Oswal

360ONE offers a compelling structural growth story anchored in India’s expanding wealth and asset management market. The company continues to drive strong gross flows across both wealth and asset management, with a temporary blip due to RM attrition, which is likely to be offset by the onboarding of new teams. The recent acquisition of B&K and the UBS collaboration enhance the company’s international footprint, broaden client access, and strengthen its transactional platform. Operating leverage and cost synergies from integrations are expected to improve profitability as new businesses scale

LTIMindtree represents growth at reasonable valuation, with a favourable risk-reward profile. Buy for target price of ₹6200 (20% upside): Nuvama

LTIM is now in a unique position, wherein it is trading below the expensive high-growth tier-2 Indian IT companies, and above the relatively inexpensive low-growth tier-1 IT companies. It represents growth at reasonable valuation, with a favourable risk-reward profile. We continue to like the company, its strong delivery capabilities and clientele, and strong positioning in key verticals. Maintain ‘BUY’

Cera Sanitaryware: Growth Fueled by Strategic Evaluations. Buy for target price of ₹8500 (31% upside): Axis Securities

We initiate coverage of Cera Sanitaryware Ltd. with a BUY recommendation and a target price of Rs 8,500/share, implying a potential upside of 31% from the CMP.We expect Revenue/EBITDA/PAT CAGR of 10%/9%/9% from FY24-FY27E.Cera is engaged in the business of manufacturing, selling, and trading various kinds of building products. Its products and services include sanitaryware, faucets and showers, tiles, and wellness. With world-class manufacturing facilities and a strong brand promise, we foresee a strong revival in growth once demand picks up

Vishal Mega Mart is a play on rising aspirations in Tier 2+ India. Buy for target price of ₹165 (20% upside): Motilal Oswal

Vishal Mega Mart (VMM) is one of India’s largest offline-first value retailers, catering to a population of ~1b across the middle- and low-income segments. VMM is a unique Indian retailer with: 1) a strong presence in tier 2+ cities (696 stores in 458 cities); 2) well-diversified exposure to key consumption baskets—Apparel (44%), General Merchandise (GM) & Fast-Moving Consumer Goods (FMCG; both ~28%); 3) a strong and affordable private brands portfolio (73% revenue share); and 4) one of the lowest cost structures in the industry

Kalyan Jewellers has large growth opportunity from the huge unorganised market. Buy for target price of ₹700 (19.4% upside): JMFICS

Kalyan Jewellers was founded by T S Kalyanaraman – who has over 45 years of retail experience with 25 years in the jewellery industry – in 1993 with one showroom in Thrissur. By FY25, it had 278 stores in India. It entered the Middle East in 2014 and operates 36 showrooms in the region (Mar-27), and 1 store in the US. Kalyan also sells jewellery through its omni platform Candere at www.candere.com and operates 73 Candere showrooms in India

Laxmi Dental (Laxmiden) is distinguished as India’s only fully integrated provider of dental solutions. Buy for target price of ₹540 (26% upside): Motilal Oswal

Laxmiden’s business encompasses three high-growth pillars: custom labs (crowns and bridges), aligner solutions (clear aligners, thermoforming sheets, and resins), and pediatric dental products (Bioflex zirconia crowns and SDF), all of which are experiencing strong momentum.

Tata Consultancy Services has a robust pipeline and valuations are compelling. Buy for target price of ₹3908 (15% upside): Systematix

At 23.6x 1-year forward multiple, TCS trades at a 4% discount to its average 10-year historical valuation. Our TP of INR 3,908 (vs INR 4,017 earlier) is based on 25x (unchanged) FY27E EPS. TCS has consistently gained market share across tech shifts over the years, backed by a diversified service mix, deep client trust, and strong domain expertise. We see it as a key partner in clients’ cost takeout and digital transformation efforts. Maintain BUY

ABBOTT INDIA is immune from the US tariff woes & can sustain the ROCE of 45%. Buy for target price of ₹40128 (16% upside): BOB Caps

Abbott’s core portfolio productivity is the highest in the industry — at Rs 12.5mn per MR from 3,250 MRs. We expect further ramp-up in productivity through new product expansion, tapping more indicators, penetrating through newer geographies and price hikes. We expect core portfolio’s productivity to increase to Rs 14.5mn by FY27E from 3500 MRs

Anant Raj is riding India’s data center drive. Buy for target price of ₹800 (44.4% upside): Emkay

We reiterate BUY on Anant Raj with an unchanged TP of Rs800. The company has announced the commissioning of its second Data Center (DC) facility at Panchkula, and is also expanding its existing capacity at Manesar, Haryana. We expect operations to start over the next two months, with annualized occupancy at ~70%, which would improve ahead. This would take total operational DC capacity to 28MW (including 0.5MW of cloud capacity), from 6MW currently. For the next two years, we factor in capex of Rs19-20bn toward DC capacity

Subscribe to Blog via Email

Stocks Talk Forum

Recent Posts

Recent Comments