ICICI Securities has reiterated its ‘buy’ recommendation on GAIL (India) with a target price of Rs 245. Despite its Oct-Dec quarterly results disappointing investors, analysts feel that its earnings may improve steadily over the next 12 months, driven by one-offs impacting trading that have resolved somewhat in Q4 and should have limited impact over FY26. They also expect sustained volume growth for transmission/trading as gas demand grows over FY26 and FY27. The valuation of the stock remains attractive, they said.
Motilal Oswal Financial Services has maintained its ‘neutral’ rating on Havells India with a target price of Rs 1,650. Analysts said that the company’s management was optimistic about growth prospects across core categories, supported by margin improvement initiatives. The company continues to invest in manufacturing, brand building, distribution, talent development, premiumization, and R&D, positioning itself for long-term success. However, the lighting segment remains impacted by pricing pressure, though volume growth remains strong. The company is focused on expanding its presence in professional lighting to drive profitability.
Emkay Global Financial Services has upgraded Maruti Suzuki to ‘buy’ from ‘add’ with a revised target price of Rs 13,500. Analysts said that for Maruti, historically, new launches have driven volume growth in passenger vehicles and the company’s launch cycle is turning positive in FY26. This coincides with early signs of improvement seen in small cars with potential consumption boosts providing further optionality. However, sustenance of such improvement needs to be watched.
Anand Rathi Share & Stock Brokers has given a ‘buy’ rating on MOIL with a target price of Rs 400. Analysts said that the company is in the process of expanding its mining capacity. It’s also setting up a high-speed shaft to hoist capacity, which would help achieve enhanced volumes. The management told the analysts that employee cost is expected to fall over the next two years. With manganese’s essential role in steel manufacturing, the company is set to capitalise on India’s steel growth story, owing to its dominant market share.
Cantor Fitzgerald has initiated its coverage of Adani Power with a ‘buy’ rating and a target price of Rs 595. Analysts said the company owns and operates 11 thermal power plants and one solar power plant in India. It’s the largest privately-owned thermal power generator in India and was the first player to use more advanced supercritical technology. What makes APL interesting to the analysts is the combination of growth, balance sheet flexibility and our view that India will continue to meaningfully rely on thermal power as the economy grows and matures. With valuation being quite reasonable, they like the risk/reward at current levels.
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