Stock Picks Today: HDFC AMC, Trent, Titan, Mankind Pharma And More On Brokerages' Radar

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Brokerages issued fresh views on Mankind Pharma, Trent, Titan, Jubilant FoodWorks, HDFC Asset Management Company alongside commentary on India hotels and more.

Incred on Mankind Pharma

  • Initiate Add with TP of Rs 2821

  • Pivoting well, growth to follow
  • Strategy for defensible products, moving into less-crowded markets
  • Chronic therapy has ~40% share, partly a result of weakness in acute
  • New biologics platform is backed by a field force scaling every deal
  • Gains build in slowly, returns still ahead

ALSO READ: Stocks To Watch Today: Trent, Cochin Shipyard, Titan, Varun Beverages, Torrent Pharma

CLSA India Technicals - Laurence Balanco

IndusInd Bank

  • Breakout above the Rs 957–968 resistance zone
  • Confirms a fresh momentum breakout and activates an upside measured-move target of Rs1,250–1,260

HDFC AMC
Breakout opens the way for an upside objective of Rs 3,580

Godrej Properties

  • Break above the confluence of resistance at Rs1,894–1,951
  • That supports an upside target of Rs2,650-2,660

Bajaj Holdings

  • Move back above the 200DMA reinforces the late-June breakout
  • This breakout structure projects an upside objective of Rs13,390–13,400

Nuvama on Aequs

  • Initiate Buy with TP of Rs 444

  • Precision powered launchpad
  • Aerospace—The wall gets taller with every part
  • Consumer electronics—an optionality with honest economics
  • Programme longevity—the valuation anchor
  • EBITDA to surge as consumer EBITDA breaks even
  • Solid $889 mn order book warrants a 42% and 84% sales/EBITDA CAGR over FY26–29

ALSO READ: Asian Markets Today: Kospi Drops Over 3%, Nikkei Slips As Investors Track Oil Risks

 
GS on Indian Hotels

  • Maintain Buy; Hike TP to Rs 830 from Rs 790

  • Domestic demand likely remained resilient
  • International air traffic showing initial signs of improvement
  • Despite several disruptions in FY26, Indian Hotels reported high single digit RevPAR growth
  • Gradual margin expansion FY27 onwards

 
Jefferies on Electronics Manufacturing Services 

  • ECMS allocation rose by 75% in Feb26 to Rs 40000 cr, while that in Mobile PLI was cut by -81%

  • Data suggests that disbursement in 14 PLIs so far is est 26% of initial outlay till FY27
  • Est ECMS to cover 50% of Mobile BoM
  • PCB is a focus area - $5bn TAM, 85-90% imports; 30% ADD
  • Stay bullish on Component plays - SYRMA, KAYNES; Hold DIXON
  • Est EMS cos to deliver strong EPS CAGR of avg +26% in FY26-29+

Citi on Titan

  • Maintain Buy with target price of Rs 5075

  • Q1 Update: Jewellery Growth (ex-Coin) Continues to Remain Strong
  • Growth was led by healthy festive and Akshaya Tritiya demand during the quarter
  • Buyer growth came in early double-digits and the average ticket sizes grew in high double-digits

 
Macquarie on Trent

  • Maintain Outperform with TP of Rs 3600

  • Pre-Q1: Weaker-than-expected sales growth
  • Believe same-store- sales growth momentum moderated from Q4 levels
  • Growth moderation is likely to weigh on near-term performance
  • See Trent's value positioning and the improving outlook on consumer demand aiding a growth recovery 

Morgan Stanley on Titan

  • Maintain Overweight with target price of Rs 5182
  • Q1 Beat: Jewellery Shines; Buyer Growth in Low Double Digits
  • Q1 growth was supported by healthy festive and Akshaya Tritiya demand and relatively stable gold prices
  • Strong India jewellery growth momentum along with good buyer growth and mix, should support stock outperformance
  • Titan remains preferred pick

 
Morgan Stanley on Trent

  • Maintain Overweight with TP of Rs 3151
  • Q1 – Slightly weak; growth below estimates of 21%
  • Store expansion pace moderated in Q1
  • Expect Q1 standalone EBITDA margin to improve 100 bps YoY to 18.5% in Q1
  • Stock could see some weakness in the near term given the slightly weaker print

 
Morgan Stanley on Jubilant Food

  • Maintain Equal-weight with TP of Rs 486

  • Q1 – inline
  • Sequential improvement in India growth is in-line
  • But overall growth rates remain below management's usual targeted levels
  • Believe margins (given inflationary pressures) remain key to monitor from earnings
  • Expect EBITDA margin to decline sequentially to 20%, owing to inflationary pressures

 
Macquarie on Titan

  • Maintain Outperform with target price of Rs 5000

  • Pre-Q1: Strong growth across segments
  • Sales growth across jewellery and watches surprises positively
  • Pickup in buyer growth in the jewellery segment paints a constructive outlook for future quarters

 
Citi on Trent

  • Maintain Sell with target price of Rs 2733

  • Q1 Update: Revenue Growth Moderates Despite Soft Base
  • Remain cautious on Trent given a still-weak revenue per sq ft trend
  • See increasing competition, impact of cannibalization, and new-store expansion in tier 2/3 towns

Macquarie on Jubilant Food

  • Maintain Underperform with target price of Rs 360
  • Pre-1Q: India in line, international weak
  • See slower store additions for Dominos India, and weaker sales performance for Turkey
  • Expect India margins to remain broadly flat

 
Bernstein on Trent

  • Maintain Outperform with TP of Rs 3500

  • Q1 business update - misses revenue estimates but new normal is closer to 20% growth
  • Any acceleration beyond this would require some sustained improvement in the urban consumption environment
  • UPI data analysis April and May also indicates soft value growth for fashion segment
  • Expect the stock to react negatively

 
Bernstein on Titan

  • Maintain Outperform with TP of Rs 5000
  • Q1 preview: +41% growth demonstrates strength of the franchise
  • Double-digit buyer growth (vs. high single digit in Q4) was a very encouraging sign
  • Jewellery margins may remain stable



from NDTV News- Special https://ift.tt/56TvmXP
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