Stock Market Updates: Axis Bank, RIL, JSW Infra, NTPC, L&T Tech in Focus
Axis Bank Ltd., Reliance Industries Ltd., JSW Infrastructure Ltd., NTPC Ltd., Non-Bank Financial companies, and L&T Technology Services Ltd. are among the companies garnering brokerages’ commentary today. Analysts have shared their insights and, in several cases, revised their target prices based on their updated fundamental outlooks for these firms.
Axis Bank: A Value Buy at Current Valuations
Maintained Outperform; cut target price to Rs 1,250 from Rs 1,330. Once seen as a turnaround story, Axis has shown stagnation over the past 1–2 years in both stock price and key operating metrics. Remain hopeful for near-term improvement in asset quality and stable deposit market share. These assumptions support the case for a value buy at current valuations.
RIL: A Rise in Capitalised Costs
Maintained Buy; cut target price to Rs 1,670 from Rs 1,726. Annual Report shows a rise in capitalised costs in Jio and Retail. FCF improvement is driven by Jio. Priorities include home broadband and enterprise in Jio, improving growth and FMCG in Retail, and renewable in O2C.
JSW Infra: Capacity Additions to Drive Earnings Growth
Maintained Buy with a target price of Rs 375. Capacity additions to drive earnings growth. Identify two key catalysts for JSW Infra over the next eighteen months: a 31% capacity addition through commissioning of under-development ports/terminals, and potential project wins with an uptick in Public-Private Partnership (PPP) project awards.
NTPC: Re-emphasized its Rs 7 Trillion Capex Plan
Maintained Outperform with a target price of Rs 433. NTPC increased its 2032 capacity guidance to 149 GW from 132 GW. Re-emphasized its Rs 7 trillion capex plan until then. Nuclear: Strong emphasis on the 30 GW target by 2047. Renewables: Confidence in their ability to execute 6 GW this year and 8 GW in the next.
L&T Tech: Q2 Likely to be the Bottom
Maintained Hold with a target price of Rs 4,790. Q2 is likely to be the bottom for L&T Tech. Autos may continue to be weak but other segments should make up for growth. Maintains double-digit CC growth in FY26e and is confident of its investments to take growth to mid-teens.
Indian Markets: A Mixed Bag
Earnings growth improved sequentially in Q1, marking a recovery. Beat was driven by stronger-than-expected revenue growth, which exceeded low analyst expectations. Earnings growth and breadth improved sequentially, while relative stock performance declined QoQ. Earnings for the broad market were in line with narrow indices.
Investment Strategy
Upgrading the Materials sector to Overweight and downgrading Pharma to Underweight. The upgrade is driven by domestic demand, policy tailwinds, and expectations of production cuts in China. The downgrade is due to 40% outperformance, tariff uncertainties, an anticipated decline in gRevlimid’s contribution in H2, and a generally low-growth profile.
Conclusion
Stay ahead with the latest Nifty and Sensex moves, Q1 earnings updates, and news-driven stock movements. Updated daily. The Indian stock market is a mixed bag, with some sectors showing promise while others face challenges. It’s essential to stay informed and adapt your investment strategy accordingly.