CLSA has a ‘hold’ recommendation on Voltas with a target price of Rs 1,375. Analysts said that the company indicated encouraging secondary sales ahead of peak summer season on a high base while the market share losses early this year have been more due to seasonality and geographical presence. The company expects to continue to grow ahead of the industry and its focus remains on absolute profit growth over profitability. Resolution of certification issues and domestic capacity build-up will be crucial going ahead.
Jefferies has a ‘buy’ recommendation on Indigo with a price target of Rs 5,700. Analysts said that Indigo, during the analyst meet, alluded to strong Q4 on pricing-per-passenger growth. For FY26, the company expects early double-digit cap growth, similar to in FY25. Expansion on international routes is a key growth driver ahead. With ballooning free cash flow, the management targets prudent allocation to maintain balance between growth and external risks.
Nomura has a ‘neutral’ recommendation on DLF with a target price of Rs 700. Analysts believe the real estate major is ready for another strong year but wait for a better entry point. Expect pre-sales to reach above Rs 20,000 crore in FY26, annuity income at 12% CAGR and operating cash flow at 15% CAGR between FY25-FY27. They believe the key downside risk is a slowdown in the NCR market and NRI demand, while the key upside risk is a stronger than expected launches or price appreciation.
Macquarie has an ‘outperform’ rating on UNO Minda with a target price of Rs 1,157. Analysts feel the company has diversified revenue mix and a wide-ranging components portfolio, which are medium-term positives. They see upside revenue potential from deeper OEM relationships, including opportunity with Korean PV OEMs and new products with existing OEMs.
HSBChas a ‘hold’ recommendation on PI Industries but has cut the stock’s target price to Rs 3,500 from Rs 3,700 earlier. Analysts feel the difficult phase for the company continues as exports remain muted. Sustained weakness is a downside risk to valuation multiples. The company has entered a zone of uncertainty as core biz remains muted while new businesses take time to scale up.