Motilal Oswal Financial Services maintained its constructive view on Transport Corporation of India and Raymond Lifestyle while retaining a Neutral rating on Escorts Kubota following their June-quarter earnings review. According to reports from NDTV Profit, the brokerage highlighted improving demand trends, operational resilience and long-term growth opportunities across the tractor, logistics and lifestyle segments. The latest developments come as these companies remain in focus after Motilal Oswal's comprehensive review of their Q1 performance.
Among the three companies, Transport Corporation of India offers the highest potential upside, with Motilal Oswal maintaining a Buy rating and target price of ₹1,150, implying around 26% upside from current levels. As reported by Moneycontrol, the company's Q1FY27 performance showed revenue growth of ~10% YoY to ~₹12.5 billion, which was in line with expectations. The EBITDA margin came in at 10.8% in Q1FY27 (+20bp YoY and flat QoQ), exceeding the brokerage's estimate of 10.3%. EBITDA grew ~12% YoY at ₹1.35 billion (5% above estimate), while APAT remained flat YoY at ~₹1.05 billion (in line). The supply chain revenue grew ~10% YoY, while the freight and seaways divisions reported ~9% and 6% YoY growth, respectively. Motilal Oswal's bullish stance is supported by the company's robust quarterly performance and ongoing cost rationalisation initiatives.
Raymond Lifestyle remained a preferred pick for Motilal Oswal, which maintained its Buy rating with a target price of ₹880, indicating upside of about 21%. According to the brokerage's analysis reported by NDTV Profit, the company's June-quarter Ebitda exceeded expectations by 21%, driven by strong garmenting performance and ongoing cost rationalisation efforts. The latest research report dated August 03, 2026, confirms this bullish stance, with Motilal Oswal citing garmenting as the new growth driver supported by a robust order book through December 2026, improving export diversification and early benefits from the India-UK FTA. Higher utilization and cost-plus contracts are expected to support further margin expansion.
For Escorts Kubota, Motilal Oswal retained its Neutral rating with a target price of ₹3,348, implying a modest upside of about 7%. As reported by NDTV Profit, the brokerage acknowledged that the company reported stronger-than-expected profit growth in the June quarter, driven by higher other income and healthy tractor demand. Despite the positive quarterly performance, Motilal Oswal maintained a cautious stance on the stock, reflecting the brokerage's measured approach to the tractor segment.
