Multiple brokerages have issued fresh positive views on UltraTech Cement Ltd. with Jefferies maintaining Buy and raising target price to ₹14,065 from ₹14,050, while Goldman Sachs (GS) and Morgan Stanley (MS) both maintain Buy ratings with target prices of ₹13,500 and ₹14,700 respectively. According to reports from NDTV Profit, the cement major delivered strong Q1 performance with EBITDA growth driven by double-digit volume growth and better prices. CLSA maintains High-Conviction Outperform with target price of ₹14,000, highlighting the company's beat on all fronts and positive Q2 guidance surprises. Latest developments show MOFSL, Nuvama and Centrum reaffirming Buy ratings with target prices of up to ₹15,209, citing robust volumes, resilient profitability and healthy demand driven by infrastructure spending and housing. The stock surged 1.91% to ₹12,124.95 following strong Q1 FY27 results. Choice Institutional Equities has now joined the bullish sentiment, recommending Buy with target price of ₹15,210 in its July 20, 2026 report, citing the company's ability to deliver market share gains while preserving profitability consistently despite inflation in imported fuel costs. Prabhudas Lilladher has now joined the bullish sentiment, recommending Buy with target price of ₹13,832 in its July 21, 2026 report, valuing the stock at 18x EV of March 2028 EBITDA. However, ICICI Securities has adopted a more cautious stance, recommending Hold with target price of ₹11,900 in its July 21, 2026 report, citing concerns over fuel cost pressures and seasonal weakness in Q2-Q3 periods.
Citi maintains Buy with target price raised to ₹1,560 from ₹1,425, while Goldman Sachs hikes target to ₹1,500 from ₹1,430 for Paytm. As reported by NDTV Profit, the fintech company is experiencing accelerated payment GMV growth rate driven by both merchant and consumer franchises. GS notes strong quarter performance with growth driven by market share gains in offline and online segments, while Paytm has applied for a wallet license that could be an additional revenue lever. The company expects EBITDA margin to double versus Q1 levels by FY28. Paytm reported fifth consecutive quarter of net profit with revenue from operations rising 28% to ₹2,448 crore during Q1 FY27, compared with ₹1,918 crore a year ago. The stock, which has a market capitalisation of ₹86,396.30 crore, settled nearly flat at ₹1,347.50.
Global brokerages have turned more bullish on One 97 Communications (Paytm) following its strong Q1 FY27 results, with multiple firms raising target prices significantly. Investec set the highest target at ₹1,720, up from ₹1,470, noting that the company achieved non-linear EBITDA expansion with core EBITDA rising to ₹1.92 billion, roughly 10% ahead of estimates. Axis Capital raised its target to ₹1,490 citing accelerating payments growth and momentum in high-margin financial services, while Morgan Stanley sharply raised its target to ₹1,450 from ₹1,175, describing Paytm as executing well in a market with a very large profit pool. JPMorgan lifted its target to ₹1,300 calling the quarter a beat across the board, highlighting accelerating GMV growth and recovering consumer payments business with monthly transacting users rising to 80 million. The company reported first-quarter FY27 revenue of ₹24.5 billion, up 28% year-on-year and 8% sequentially, with net profit rising to ₹2.2 billion, up about 79% from a year earlier. EBITDA came in at ₹2.0 billion, up 54% quarter-on-quarter, taking the EBITDA margin to 8.3% from 5.8% in the prior quarter. Gross merchandise value grew 31% year-on-year to ₹7.1 trillion, faster than the previous two quarters, while financial services revenue rose 45% year-on-year. The company's cash balance stood at about ₹135 billion, net of client balances, which brokerages cited as balance-sheet strength.
HSBC maintains Buy on Oberoi Realty with target price increased to ₹2,310 from ₹2,100, citing the company's strong positioning in NCR markets despite Q1 being light on pre-sales. According to NDTV Profit, Jefferies initiates Buy on FCNR with target price of ₹1,500, noting that FCNR-B mobilisation is off to a good start with $50-70 billion mobilisation expected to be positive. In the banking sector, Kotak Securities maintains Sell on Karur Vyasa Bank with target price of ₹285, citing valuation concerns despite strong operational performance.
CLSA India Consumer reports 5x more price increases than cuts since May, with 18% of samples seeing price raises. As reported by NDTV Profit, Britannia biscuits saw 8% average price increase while VAHO saw 14% price increase. The consumer prices survey indicates home care products saw the biggest price increases, with Coconut hair oil seeing a 11% price cut. The analysis suggests consumer prices to remain volatile, especially for home and personal care products.
