Brokerages issued fresh views on Canara Bank, Bharti Airtel, Colgate, Dabur, Clean Max, Ambuja, NHPC alongside commentary on auto, hospitals, paints, consumer staple, paints sector and more.
UBS on Canara Bank
- Maintain Buy with TP of Rs 160.
- Q1FY27: Loan growth came in healthy; higher than estimates.
- Deposit traction remains steady.
- NIM performance and credit cost/slippages to be key.
MS on Canara Bank
- Maintain Underweight with TP of Rs 103
- Q1 Initial Update: Strong credit growth
CLSA on Bharti Airtel
- Maintain Outperform with TP of Rs 2310
- Postpaid leader
- Postpaid drives Bharti's leading ARPU & ‘Fast Lane' will accelerate gains
- Postpaid subscribers low price sensitive
- Sector tariff hike is inevitable
Macquarie on Auto Sector
- June 2026: Demand momentum remains strong
- PV leads demand growth; 2W demand stays firm
- June wholesale sales remained firm and retail volumes confirm underlying demand momentum also remains solid
- Q1 margins will be muted; focus shifts to Q2 margin outlook given recent moderation in commodity costs
- TVS and M&M are top picks
MS on Auto Sector
- June 2026 – Retail Growth Trajectory Remains Strong
- Retail sales trend in June 2026 remained healthy across PVs, 2Ws, CVs and Tractors
- EV penetration continued to improve across segments
- Falling commodity costs and healthy volume growth could support margin improvement from Q2
- Maruti, M&M and TVS remain preferred Overweight
Jefferies on Auto Sector
- Strong Growth Momentum in June
- Indian auto industry witnessed strong volume growth across segments in June
- Estimate that wholesales grew a strong 38% YoY for trucks, 23% YoY for PVs, and a healthy 14% YoY for tractors
- Registration growth accelerated to 20-38% YoY across segments with rising share of EVs in 2Ws & PVs
JPMorgan on Auto
- Broad-based retail growth continues
- Wholesale sales were volatile due to company-specific factors
- Maruti wholesale was in-line with industry but outperformed on retail; Hero remains a laggard
- M&M's wholesale performance improved while retails were a mixed bag
- Hero's wholesales suffered due to a fire incident at one of the supplier's manufacturing facilities
- Maruti/TaMo PV outperformed retail growth in PVs, while Eicher/TVS outperformed in 2W retails
- TaMo CV/M&M outperformed in heavy goods
HSBC on Hospitals
- Watch for competition from Manipal
- Manipal, the largest private hospital chain in India, prepares for an IPO
- Expect hospitals will continue to see higher competition from Manipal for doctors, especially in Delhi-NCR
- Prefer Fortis Healthcare and Apollo Hospitals; both are Buy-rated
HSBC on Paints
- Q1 preview – robust demand but overhangs remain
- Demand was likely resilient in Q1FY27, despite price hikes;
- Unit margins were protected, but key to track dealer behavior
- Seasonally weak Q2 could see some roll-back of price hikes, although companies could also choose to buffer margins
- Competitive intensity still high and could limit over-earning opportunities
JPMorgan on Consumer Staples
- Resilient Q1 for most : Foods>HPC>Alcobev>Tobacco
- Expect Q1FY27 to witness stable to improving revenue growth trends
- Expect Packaged Foods companies to witness the highest growth, followed by HPC and then Alcobev
- Tobacco (ITC) will likely see sharply lower revenue
- Highest EBITDA growth will likely be witnessed by Honasa, Nestle, Varun Beverages, Tata Consumer, Marico, and Britannia.
BofA on Internet Stocks
- Q1 preview: Stable quarter despite Middle East war headwinds; room for positive surprises
- Believe Meesho could positively surprise on growth & margins
- Delhivery's margins may disappoint due to timing on fuel price pass though
- Even PB Fintech margins are likely to be soft QoQ due to seasonality but up YoY
- For Eternal, despite high competition in Quick Commerce, expect to show strong QoQ NOV & margin improvement
Citi on Colgate
- Maintain Sell; Cut TP to Rs 1900 from Rs 2050
- Expect the revenue growth trajectory to be more balanced
- See incremental pricing growth partially offset by the continued competitive intensity
- Lower target multiple given weaker-than-expected medium-term earnings growth trajectory
Citi on Dabur
- Maintain Sell; Cut TP to Rs 425 from Rs 440.
- Lower target multiple given the broader sector / market de-rating.
Antique on Clean Max
- Initiate Buy with TP of Rs 1711
- Bypassing the DISCOM to power corporate energy transition
- The largest and most differentiated commercial and industrial platform
- Data and AI: a concentrated, contracted demand engine
- Visible contracted growth, on economics safe from regulation
- Expect operational capacity to scale 2.5x reaching 7.8 GW by FY29
Bernstein on Ambuja
- Upgrade to Outperform from Market-perform; TP at Rs 486
- Normalising costs should drive EBITDA/Tonne in the 2nd half
- Operational underperformance of Ambuja to reverse
- Valuation gap too big to sustain.
CLSA on NHPC
- Maintain High Conviction Outperform with TP of Rs 117.
- Set to double its regulated equity by FY30.
- FY26: Landmark year for projects delivered; PAT to follow.
- Project starts a few quarters late, but worth the wait.
- Reiterate HC O-PF rating on a decadal growth green utility.
- NHPC is the biggest beneficiary of the Indus water treaty being put in abeyance.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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