Torrent Pharma Ltd., IndusInd Bank, Adani Green, Go Digit, GAIL, IEX, Ajanta Pharma Ltd., BEL, Amber Enterprises, Motherson Sumi Wiring, and CarTrade Tech Ltd., are among the companies garnering brokerage commentary today.

Analysts have shared their insights and, in several cases, revised their target prices based on their updated fundamental outlooks for these firms, broadly based on the first quarter financials that the players have put out. Here are the key analyst calls to watch out for today:

On Torrent Pharma

Citi

  • Maintained Buy; hiked target price to Rs 4,380 from Rs 4,000.

  • They noted a healthy, in-line quarter with solid market traction.

  • Adjusted EBITDA margin was 32.9%, seen as a minimum level for coming quarters.

  • Citi believes margin expansion will continue, driven by operating leverage in branded segments and potential US recovery.

On IndusInd Bank

Citi

  • Maintained Sell with a target price of Rs 765.

  • They see an earnings reset in progress, with focus on the CEO appointment.

  • Slippages normalized after Q1 one-offs but remain elevated.

  • They expect weaker growth and higher credit cost, partly offset by better NIM and treasury gains.

  • Citi cut FY26E/FY27E earnings by 2-3%.

  • The upcoming CEO announcement and strategic roadmap are key triggers.

Morgan Stanley

  • Maintained Underweight with a target price of Rs 750.

  • Q1 saw NII beat but fee income miss.

  • Core Pre-Provision Operating Profit (PPoP), excluding IT refund, was 11% below estimates.

  • Slippages remained high at 3% of loans, as did credit costs.

  • They reduced FY26-28 earnings by 15-20%.

  • Expect FY26 to be very weak with Return on Assets (RoA) of 0.6%, gradually recovering to 0.8%/1% in FY27/FY28.

Macquarie

  • Maintained Underperform with a target price of Rs 650.

  • They believe RoAs below 1% are the new normal.

  • Q1 Profit After Tax (PAT) was in line; higher NIMs and treasury gains offset lower fee income.

  • Elevated slippages led to higher credit costs.

  • Quarter-on-quarter slippage comparison is not possible due to Q4 ‘kitchen-sinking’.

  • RoAs are expected to remain below 1% near-term.

Bernstein

  • Maintained Outperform with a target price of Rs 1,000.

  • Q1 showed “more familiar problems” and a search for a new baseline.

  • They see no clear levers for immediate RoA improvement.

  • Q1 results will force a reassessment of the bank’s near-term RoA potential.

On Adani Green

Macquarie

  • Maintained Outperform with a target price of Rs 1,200.

  • Q1 showed strong capacity additions and healthy utilization.

  • Adani Green targets 50GW of renewable energy capacity by FY30.

  • Capacity additions trending above expectations pose upside risk to the forecast 25% EBITDA Compound Annual Growth Rate (CAGR) over the next five years.

On Go Digit

Morgan Stanley

  • Maintained Equal-weight with a target price of Rs 315.

  • Q1 was a decent quarter; Profit Before Tax (PBT) was in line.

  • Product mix and lower retention led to higher expense and combined ratio.

  • Management expects retention to normalize.

  • Return on Equity improved under both Indian Generally Accepted Accounting Principles and International Financial Reporting Standards.

On GAIL

Macquarie

  • Maintained Outperform with a target price of Rs 215.

  • Q1 was muted; petrochemicals dragged results.

  • Transmission volume was soft for June quarter but should improve.

  • Gas Marketing has been offsetting losses for petrochemicals.

  • They expect a reversion as Gas Marketing margin moderates alongside reduced losses for petrochemicals.

On IEX

Bernstein

  • Downgraded to Underperform from Market-perform; cut target price to Rs 99 from Rs 122.

  • They see a “broken model” for IEX.

  • Odds of market coupling order reversal are very low.

  • They foresee further negative catalysts from a transaction charge discussion paper.

  • New players are expected to emerge as barriers to entry disappear.

On Ajanta Pharma

Jefferies

  • Maintained Buy; hiked target price to Rs 3,320 from Rs 3,140.

  • Q1 was a modest beat for Ajanta, with growth drivers in place.

  • FY26 guidance pointed to continued outperformance for India, mid-teens growth in Asia.

  • They project EBITDA margin at 27% (plus/minus 1%) due to ongoing investments in Asia/Africa.

  • Cut FY26/27 EPS by 2-3% on higher near-term operating expenses.

On BEL

JPMorgan

  • Maintained Overweight with a target price of Rs 490.

  • Q1 saw a margin-driven beat; order wins remain strong.

  • They are not overly concerned about revenue growth.

  • Order wins are well ahead of the run rate needed to meet FY26 guidance of Rs 27,000 crore.

Morgan Stanley

  • Maintained Overweight with a target price of Rs 418.

  • Q1 showed strong margin improvement.

UBS

  • Maintained Buy with a target price of Rs 450.

  • EBITDA margin was 28.1%, driven by a 780bps year-on-year rise in gross margins.

  • New orders totaled Rs 7,400 crore, up 48% year-on-year.

  • Despite a Q1 revenue miss, BEL is on track for FY26 guidance, requiring 9-month FY26 revenue growth of 20% and EBITDA growth of 9%.

On Amber Enterprises

JPMorgan

  • Maintained Neutral with a target price of Rs 7,350.

  • Amber is taking a controlling stake in Unitronics, a high EBITDA margin business.

  • Unitronics provides exposure to Industrial Electronic Manufacturing Services (EMS).

  • Unitronics has a 30% EBITDA margin.

  • This acquisition could add 2-7% to FY26/27 revenue/EBITDA if consolidated.

  • Higher exports could pose a headwind.

On Motherson Sumi Wiring

Bank of America

  • Maintained Neutral; hiked target price to Rs 42 from Rs 40.

  • Revenue beat and Electric Vehicle (EV) share are rising.

  • Margin miss and EPS cuts continue due to new plant drag.

  • Margin recovery is taking longer than expected.

  • Valuations at 29x Price-to-Earnings (PE) cap meaningful upside.

On CarTrade Tech

Nomura

  • Maintained Buy; hiked target price to Rs 2,388 from Rs 1,839.

  • Q1 EBITDA was ahead of estimates.

  • Strong operating leverage drives margins in the Consumer business and Shriram Automall (SAMIL).

  • They see this as a play on weak auto demand and rising Non-Performing Assets (NPAs).

. Read more on Markets by NDTV Profit.Torrent Pharma Ltd., IndusInd Bank, Adani Green, Go Digit, GAIL, BEL, Amber Enterprises, Motherson Sumi Wiring, and CarTrade Tech Ltd., are among the companies garnering brokerage commentary today.  Read MoreMarkets, Business 

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