JP Morgan maintains an overweight rating on Bajaj Finance with a target price of ₹1,080. According to reports from The Times of India, analysts attended the management meet and identified three key takeaways. The company's growth momentum remains strong despite macro concerns from higher global oil prices and supply chain disruptions. Asset quality trends including bounce rates and collection efficiency remain benign across loan segments with no visible impact from the West Asia conflict. Management expressed confidence in delivering 10-12 basis points NIM decline guidance for FY27 despite tight liquidity environment and recent funding cost spikes.
CLSA has assigned a high conviction outperform rating on Varun Beverages with a target price of ₹654. As reported by The Times of India, the company has entered into a strategic partnership with Asahi Group Holdings to manufacture, distribute and sell the CALPIS brand—a fermented milk-based beverage with over a century of presence in Japan. The alliance adds a differentiated fermented dairy-based ready-to-drink offering to VBL's existing portfolio, leveraging its strong manufacturing base and extensive distribution network including cold-chain infrastructure.
Nomura maintains a buy rating on Nykaa with a target price of ₹317. According to The Times of India, analysts highlighted strong FY30 guidance from the company's investor day. Nykaa guided revenue growth of 2.5-3x and expansion of EBITDA margins to early-/mid-teens by FY30. The company benefits from consumer preference shift toward discovery-led new-age brands through its trusted platform, content ecosystem and owned brands, enabling capture of disproportionate share of premium lifestyle spending.
Citigroup has assigned a buy rating on Jubilant Foodworks with a target price of ₹650. As reported by The Times of India, management meet takeaways showed Domino's India like-for-like growth expected to remain in the 5-7% medium-term range despite quarterly volatility. The deceleration in Q4FY26 was attributed to high base, lower free-delivery threshold and weaker dine-in/takeaway performance rather than demand weakness. Management remains confident of 200 basis points standalone margin expansion from FY24-FY28, with margin pressure from cost inflation partially offset by pricing actions.
