JP Morgan maintained its overweight rating on Bharat Electronics with the target price at Rs 490. Analysts said during the April-June quarter, there was a margin-driven beat in numbers and order wins remained strong. They said they were not unduly concerned about BEL’s revenue growth. The PSU major’s order wins were well ahead of the run rate required to achieve the FY26 guidance of Rs 27,000 crore.Morgan Stanley maintained its underweight rating on IndusInd Bank with the target price at Rs 750. Analysts said that the lender’s net interest income during the previous quarter was ahead of estimates while fee income was lower. Its core PPoP (pre-provision operating profit), excluding income tax refund and others, was 11% below estimates, while slippages remained high at 3% of loans, as did credit costs. Analysts have reduced earnings by 15-20% in FY26-FY28 period.Citigroup maintained its buy rating on Torrent Pharma with an increased target price of Rs 4,380 from Rs 4,000 earlier. Analysts said that for the pharma major, the April-June quarter was a healthy and in-line quarter with solid traction across the markets. They expect the margin expansion trend will continue. They also expect operating leverage benefits in the branded segments and potential recovery in the US market.Macquarie maintained its outperform rating on Adani Green Energy with the target price at Rs 1,200. Analysts said the company showed strong capacity adds during the April-June quarter, healthy utilization. The company targets 50GW of renewable-energy capacity by FY30. They said that with capacity additions trending above expectations, this poses upside risk to forecast 25% EBITDA (earnings before interest, taxes, depreciation and amortisation) CAGR (compounded annual growth rate) over the next five years.CLSA initiated its coverage of Radico Khaitan with an outperform rating and a target price of Rs 3,098. Analysts said that given recent investments in building capacity for premium spirits, they believe that the company is well positioned to deliver 265 basis points EBITDA margin expansion in FY25-FY28 to 16.5%.(Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.)