Stock Picks Today: Top Brokerage Calls on Tata Motors, Lupin, Coforge, and More
Indian stock markets are expected to be volatile today, with various brokerage houses sharing their insights and revising their target prices for several key companies. In this article, we will delve into the top brokerage calls on Tata Motors, Lupin, Coforge, Mphasis, Welspun Living, and HDFC Life.
Nomura on Tata Motors
Nomura has maintained a neutral stance on Tata Motors, with a target price of Rs 732. The brokerage house believes that the company’s passenger vehicles (PVs) will outperform the industry, driven by a surge in demand for compact SUVs after the GST cut. Additionally, Nomura expects the commercial vehicles (CVs) growth to pick up, while JLR did not experience any significant impact on demand across key markets.
Jefferies on Tata Motors
Jefferies has maintained an underperform rating on Tata Motors, with a target price of Rs 575. The brokerage house believes that JLR is still recovering from the cyberattack, but there is a strong uptick in PV bookings. Jefferies is also sanguine on India CV demand and margins.
JP Morgan on Consumer Sector
JP Morgan believes that consumer sector leaders are cautiously optimistic about demand improving in H2FY26. The brokerage house expects auto sector demand to rebound, with double-digit growth for 2-wheelers and a recovery in small cars. JP Morgan has also highlighted that asset quality trends remain benign, with stress still localized, and India’s capex cycle remains healthy.
CLSA on Coforge
CLSA has initiated an outperform rating on Coforge, with a target price of Rs 2,346. The brokerage house believes that the company has able leadership, a strong track record, and derives two-thirds of its revenue from the financial services and travel verticals. CLSA also expects the company to deliver strong order book, revenue, and earnings growth.
Morgan Stanley on Mphasis
Morgan Stanley has maintained an overweight rating on Mphasis, with a target price of Rs 1,880. The brokerage house believes that the share price will rise relative to the country index over the next 60 days, driven by strong revenue growth and margin trends. Morgan Stanley also expects limited downside risk to consensus EPS estimates and potential for FCF margins to improve going forward.
Morgan Stanley on Lupin
Morgan Stanley has maintained an equal-weight rating on Lupin, with a target price of Rs 2,096. The brokerage house believes that the company’s acquisition of VISUfarma will strengthen its European operations and advance its global specialty franchise. Morgan Stanley has also highlighted that the implied valuation is 11.7x 2025e EV/EBITDA, and Lupin is funding the deal with cash on the balance sheet.
Jefferies on Welspun Living
Jefferies has maintained a hold rating on Welspun Living, with a target price of Rs 120. The brokerage house believes that the company is facing tough times until tariff issues are resolved, with significant near-term challenges in its US business. Jefferies expects a washout of profitability in the short term and a 15-20% decline in US revenues.
Goldman Sachs on Q2FY26 Preview
Goldman Sachs expects export weakness to start becoming visible in Q2FY26, while domestic demand remains strong. The brokerage house believes that cables and wires will see domestic demand remaining strong, with some moderation in growth rates. Goldman Sachs has also highlighted that Dixon is expected to deliver a 4% QoQ growth in mobile and EMS division, versus 15% guided by the company for Q2.
Nomura on HDFC Life
Nomura has maintained a buy rating on HDFC Life, with a target price of Rs 700. The brokerage house believes that investors have strong interest in the data center theme in India, and the company’s early start in the DC segment and relatively lower capex cost are positives. Nomura has also highlighted that management sees visibility for approximately 8-10 years for the real estate segment.
These are just a few of the top brokerage calls on key companies in the Indian stock market. Investors should do their own research and consult with financial advisors before making any investment decisions. For more information on the Indian stock market, click here.