Macquarie maintains an Outperform rating on Sun Pharma with a target price of ₹2,150. According to reports from NDTV Profit, the brokerage notes that competing bids for the Organon asset have converged meaningfully close to Sun Pharma's offer of $14 per share. Two other credible parties were reaching approximately $13 per share before exiting the process. Key interested parties included a European pharmaceutical company, a financial sponsor (private equity), and a private healthcare holding company. Macquarie believes concerns around the combined entity's near-term top-line growth are overstated and maintains a constructive view on the Sun–Organon deal.
Motilal Oswal has set an ambitious ₹1,900 target price for Coforge with a Buy rating, representing a 30% upside potential. The brokerage attended Coforge's Analyst Day and outlined the company's medium-term growth aspirations, with management targeting $5 billion in revenue by FY30 from the current $2.5 billion, implying a 19% revenue CAGR (15% organic). This compares favorably to Nuvama's earlier projection of ₹2,200 target price with 50% upside potential. Coforge's order book stands at $1.75 billion, with healthcare and the public sector driving FY27 large-deal momentum. Over 75% of AI pilots have moved into production via the ModSquad hybrid model, boosting scalable AI-driven delivery capabilities. Morgan Stanley also maintains an Overweight rating with a ₹1,500 target price, projecting around 15% organic CAGR aligned with historical trends. The large-deal win ratio improved to 47% in FY26 from 38% in FY25, supported by a solution-led sales approach.
Jefferies has upgraded Polycab to a Buy rating with a target price increased to ₹10,920 from ₹9,770. According to NDTV Profit, the brokerage notes that Polycab has posted double-digit C&W sales growth with 12-15% EBIT in the past 15 quarters. The firm estimates FY26-29 EPS CAGR at +22%. Jefferies also upgraded Pine Labs to a Buy rating with a target price of ₹2,350, expecting 18.5% top-line CAGR over FY26-28E with Adj EBITDA margins expanding to 26%/30% in FY27/28E versus 21% in FY26. Morgan Stanley maintains an Overweight rating on Pine Labs with a target price of ₹1,860, while Citi also maintains a Buy rating with a target price of ₹2,350. Polycab stays a conviction pick, led by consistent market share gains, with strong order book in RDSS & Bharat Net, diverse sales, power proxy and FMEG sustaining positive EBIT.
Citi maintains Buy ratings on Crompton Consumer with a target price of ₹400 and Godrej Consumer with ₹1,300. According to NDTV Profit, Crompton has taken four rounds of price hikes in fans aggregating 9-10%, while Godrej Consumer expects high-single-digit volume growth in FY27. However, Citi maintains a Sell rating on Trent with a target price of ₹2,733, citing supply-side challenges across raw materials and labor availability. The brokerage also maintains a Sell rating on Colgate with a target price of ₹2,050, noting that pricing pressures may persist despite healthy gross margins. Trent continues to evaluate lifestyle adjacencies, with Zudio's opportunity appearing larger than earlier envisaged, while Colgate expects growth trajectory to be more balanced with a favorable base helping.
HSBC maintains a positive outlook on the cement sector, noting that cost inflation worries are expected to abate with costs peaking in Q1 and declining in H2. As reported by NDTV Profit, the brokerage expects lower crude oil prices to drive costs down in FY28. HSBC recommends Ambuja, UltraTech, Dalmia, and Nuvoco as top picks with Buy ratings, while retaining Hold on JK Cement and Shree Cement. In the financial sector, Bernstein believes a broad-based Merchant Discount Rate (MDR) on UPI remains unlikely, with any potential MDR likely limited to merchant size and transaction thresholds. LG India is positioned as a key beneficiary of India's durable consumption upcycle, with the large appliances segment expected to deliver double-digit CAGR, while PB FinMart has derated 20% over the last 6 months due to commission regulations concerns but maintains a Buy rating with a ₹1,950 target price.
