Brokerages have issued several positive recommendations across multiple sectors, with Motilal Oswal maintaining a 'BUY' rating on Adani Ports and Jefferies retaining a 'BUY' on Polycab with a 34% upside potential. According to reports from ET Now, HDFC Securities maintained a 'BUY' on UltraTech Cement while raising its target price to ₹14,500. The brokerage also maintained an 'ADD' rating on BSE and retained a 'BUY' rating on BEL, HAL and Astra Micro in the defence sector. Motilal Oswal initiated coverage on V2 Retail with a 'BUY' rating and ₹275 target price, implying around 27% upside, citing the retailer's tier-II/III focus, strong store economics, high private-label mix and disciplined inventory management.
UltraTech Cement's foray into the wires and cables business is likely to boost the company's revenue growth in the coming years, with the new Ultravolt brand contributing 6% of the company's total revenue over the next five years. As reported by Mint, the company has earmarked ₹18 billion of capital outlay for a 3.5 million KM capacity and aims to bring its wires and cable business to the second position in the industry. HDFC Securities estimates this segment to account for 2% of consolidated revenue and turn EBITDA positive in FY29E, with potential for revenue share to increase to 6% by FY31E. The brokerage maintains its 'BUY' rating with a target price of ₹14,500 per share (17x Sep'28E consolidated EBITDA), citing the company's strong distribution network and steady expansion plans.
In the telecom space, HSBC retained a 'REDUCE' rating on Vodafone Idea but raised its target price to ₹8.25 from ₹7.70. As reported by ET Now, Morgan Stanley maintained an 'EQUAL-WEIGHT' stance on Swiggy and retained the same rating on Godrej Consumer Products but cut its target price to ₹1,027 from ₹1,204. The mixed signals reflect varying brokerage views on different telecom and consumer stocks within the sector.
The railway infrastructure sector received a boost with RVNL shares gaining nearly 2% after the company received a ₹903 crore Letter of Award from SJVN Thermal for a railway infrastructure project linked to the 1320 MW Buxar Thermal Power Project in Bihar. The company also recently emerged as the L1 bidder for a ₹404 crore East Coast Railway project, demonstrating strong execution capabilities in the railway infrastructure space. Pricol shares gained after Axis Direct initiated coverage with a 'BUY' rating and ₹935 target price, implying around 21% upside, expecting strong growth through FY29 driven by rising demand for digital instrument clusters, plastics expansion, EV content and global auto orders.
According to ET Now, Indian equities are likely to remain in focus as these brokerage calls put several stocks across ports, defence, consumer, cement, telecom and new-age businesses on investors' radar. The recommendations span multiple sectors, indicating broad market interest across different investment themes. Morgan Stanley sees India entering a multi-quarter growth upcycle, expecting the Sensex to reach 89,000 by June 2027 in its base case, while assigning 25% probabilities to a bull-case target of 100,000 and a bear-case target of 66,000. The positive sentiment toward infrastructure and defence stocks, combined with selective caution in telecom and consumer sectors, suggests a nuanced approach to current market opportunities.
