Stock Recommendations Today: Bajaj Auto, Ola Electric, Tata Consumer, Delhivery, Suzlon On Brokerages’ Radar NDTV Profit Research NDTV Profit

Bajaj Auto Ltd., Ola Electric Ltd., Tata Consumer Products Ltd., and Suzlon Energy Ltd. remain in focus, with analysts adjusting price targets and forecasts.

CLSA and Jefferies revised views on Bajaj Auto, citing steady two-wheeler growth and a rising EV franchise. Ola Electric sees target cuts despite new e-motorcycle launches, while Suzlon remains a top pick for its robust order book and balance sheet.

NDTV Profit tracks what analysts are saying about various stocks and sectors. Here are the analyst calls to keep an eye out for on Friday.

Brokerages On Bajaj Auto

Jefferies

• Jefferies maintained a ‘hold’, raising the target price to Rs 8,000 from Rs 7,750.

• Fourth quarter performance was strong due to better ASPs, with growth seen in both domestic and export 2W markets.

• EV progress is encouraging, but market share concerns in domestic motorcycles and exports remain.

• EPS CAGR of 13% is projected for FY25–28E, but the stock’s 26 times FY26E P/E is considered expensive.

CLSA

• CLSA maintained ‘outperform’ on Bajaj Auto, raising the target price to Rs 10,149 from Rs 9,473.

• Fourth quarter results were in line, with plans to increase share in the 125-cc segment.

• Domestic two-wheeler growth is expected at 5–6%, and exports at 15–20% in FY26.

• FY27 EPS has been raised due to continued cost reductions in electric two-wheelers.

Bernstein On Delhivery

• Bernstein has upgraded Delhivery to ‘outperform’ from ‘market-perform’, while reducing the target price to Rs 430 from Rs 450.

• The brokerage sees signs of recovery and expects industry consolidation and resilience in traditional logistics to act as tailwinds.

• Ebitda estimates for financial year 2026–2027 have been raised by 1–2%.

• Long-term growth expectations are tempered due to the impact of quick commerce and a mixed track record in execution.

• The upgrade is momentum-driven, not a full return to its earlier growth narrative.

Goldman Sachs On Ola Electric

• Goldman Sachs maintained a ‘buy’ rating on Ola Electric, cutting the target price to Rs 70 from Rs 75.

• The start of e-motorcycle shipments is noted, but Ebitda breakeven is now expected by second quarter of financial year 2026.

• FY26–28 revenue estimates are cut by 11–19% due to expected increases in forward warranty cost provisions.

JPMorgan On Tata Consumer

• JPMorgan hosted the managing director and chief executive officer, noting improved demand conditions in India.

• Domestic revenue growth is targeted in the low to mid-teens, led by core tea/salt (mid-high single digit) and 30% growth in other businesses.

• Margins are expected to improve consistently, supported by stabilising tea prices and strong international performance.

Jefferies India Strategy

• Jefferies sees a second consecutive good monsoon as positive for agri GDP, rural demand, and inflation.

• Low inflation is expected to support further rate cuts, with 75 bps more seen as likely.

• Early monsoon may impact June 2025 quarter sectors like cement, capital goods, and power.

• Top rural picks include TVS Motors, Bharti Airtel, Vishal Mega Mart, and Godrej Consumer.

• Portfolio changes include a 1.5 points shift from power to metals; JSW Energy cut, Jindal Stainless added.

Investec On Suzlon

• Investec maintains a ‘buy’ on Suzlon with a target price of Rs 70.

• The company is now a net-cash entity with strong RoE/RoCE and a growing order book.

• Revenue and PAT CAGR of 49% and 26% respectively are forecast for FY25–27.

Jefferies On Adani Group

• Jefferies calls financial year 2025 a “year of consolidation” for the Adani Group, with Ebitda up 14% year-on-year and a five-year CAGR of over 25%.

• Group leverage has marginally increased due to capex; raised $2 billion equity and $750 million bonds.

• FY25–27 Ebitda is projected to grow at 22% CAGR.

Brokerages On Samvardhana Motherson International

Jefferies

• Jefferies maintained a ‘buy’ rating, increasing the target price to Rs 180 from Rs 165.

• Fourth quarter was a miss, but the company is expanding rapidly in non-auto sectors, particularly electronics.

• New plants are being set up for equipment components and PCBA for autos.

CLSA

• CLSA also maintained ‘outperform’ on SAMIL, raising the target price to Rs 182 from Rs 167.

• Operating performance was largely in line, though EU demand weakness impacted the polymer segment.

• Organic growth of 10% CAGR is projected for FY25–27.

JPMorgan On Godrej Consumer

• JPMorgan maintained ‘overweight’ with a target price of Rs 1,365.

• Financial year 2026 volume growth is expected in the mid to high single digits, with second half stronger than first half.

• The company aims for improved growth in household insecticides and continued momentum in hair colour and air care.

• India margins are projected to normalise in second half of financial year 2026, with GAUM region margins stabilising above 15%.

CLSA On Prestige Estates

• CLSA maintained ‘outperform’ with a target price of Rs 2,380.

• Financial year 2026 presales are expected between Rs 25,000–27,500 crore, with Rs 9,000–10,000 crore in first quarter of financial year 2026.

• CLSA sees strong growth and faster execution driving cash flows, and believes the stock’s discount to peers is unwarranted.

Jefferies On Alkem Labs

• Jefferies maintained ‘underperform’, cutting the target price to Rs 4,460 from Rs 4,580.

• After 18 months of margin improvement, the focus has shifted to growth, requiring higher R&D spend.

• Revenue growth guidance is high-single digit for financial year 2026, double-digit for fiscal 2027.

• Financial year 2026 Ebitda margin is expected to remain flat; EPS cut by 3–6% for FY26/27.

JPMorgan On Amara Raja

• JPMorgan maintained ‘neutral’ rating, with a target price of Rs 1,165.

• Fourth quarter earnings missed due to high alloy and power costs.

• While top-line growth was better than Exide’s, adjusted Ebitda and profit were weaker.

• Profit estimate downgrades are expected due to the 16% Ebitda miss.

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