Stock Picks Today: Bajaj Finance, Nestle India, SBI Life, IndusInd Bank Among Others On Brokerages’ Radar

Bajaj Finance, Nestle India, SBI Life, Supreme Industries and SRF were among the company on brokerages radar on Wednesday. Analysts have shared their views on the June quarter earnings of these companies.

Several brokerages have also revised their target price for these stocks based on a fundamental outlook revision.

NDTV Profit tracked analysts’ views on various stocks and sectors. Here are the analyst calls to keep an eye out for today.

On Bajaj Finance

Jefferies

• Maintained Buy rating

• Raised price target to Rs 1,100 from Rs 1,044

• Growth remained healthy despite a slight rise in MSME loans

• FY26 guidance remains unchanged; Q2 trends will be important

• Credit costs ticked higher and may stay elevated for two to three quarters

• Reduced profit estimates by 1–2%

• CEO succession plan to be submitted in six months

Macquarie

• Maintained Underperform rating with price target of Rs 800

• Q1 PAT was in line; lower provisioning offset weaker income

• SME segment stress drove higher credit costs

• Market has yet to factor in growth guidance cuts and rising credit costs

Citi

• Maintained Neutral rating with price target of Rs 983

• MSME-related stress and growth risks are emerging

• Net interest margin upside and cost control offer some cushion

• Succession plan to be detailed in six months, with transition near March 2028

• Earnings estimates largely unchanged

On SBI Life

Jefferies

• Maintained Buy rating

• Increased price target to Rs 2,180 from Rs 2,000

• Q1 saw slower growth but better mix and attachment products supported margins and VNB

• Management remains confident on bancassurance and regulatory outlook

• Valuation may offer scope for re-rating

Macquarie

• Maintained Neutral rating with price target of Rs 1,720

• Q1 saw a small VNB beat due to higher-than-expected margin

• Management expects VNB margin to remain in the 26–28% range

• Regulatory risk and near-term growth concerns support Neutral view

Morgan Stanley

• Maintained Overweight rating with price target of Rs 2,115

• Q1 was strong; SBI Life remains a preferred large cap pick

• Offers attractive risk-reward with limited downside

• Among life insurers, remains cheapest on P/VNB despite highest return on embedded value

On Nestle India

Jefferies

• Maintained Hold rating with price target of Rs 2,350

• Q1 results fell short of expectations

• Sales growth driven equally by volumes and realisations

• Milk and nutrition segments underperformed, while e-commerce gained through quick commerce

• Higher input costs led to margin contraction, impacting Ebitda

• EPS estimate reduced by 4–5%

Macquarie

• Maintained Neutral rating

• Cut price target to Rs 2,250 from Rs 2,375

• Q1 results missed estimates; near-term growth concerns remain

• Gross margin underperformed and higher other expenses offset largely in-line sales

• Milk and nutrition sales have yet to recover

• Softer coffee prices may limit pricing growth in beverages

• Manufacturing cost pressure raises risk to FY26 EPS

• See limited upside at current 67x FY27 EPS valuation

Macquarie on IndusInd Bank

• Maintained Underperform rating with price target of Rs 650

• A capital raise is expected soon

• Bank remains well capitalised despite past large write-offs

• The capital raise would lift CET-I to around 17.5%, implying capital accretion of roughly 240 basis points

• Return on assets likely to stay muted in the near term

Investec on Torrent Pharmaceuticals

• Upgraded to Buy from Sell

• Increased price target to Rs 4,100 from Rs 2,930

• Acquisition improves position in chronic, probiotics, and gastrointestinal therapies in India

• Transaction expected to be EPS accretive by FY28

• M&A track record remains stron

Jefferies on Supreme Industries

• Maintained Buy rating

• Cut price target to Rs 5,100 from Rs 5,150

• Volume growth has improved over the last four quarters

• Wavin acquisition expected to support volumes

• Forecast FY26 pipe volume growth at 10%, below management’s 15–17% outlook

• Estimated EPS compound annual growth rate of 22% for FY25–28

Jefferies on SRF

• Maintained Underperform rating

• Raised price target to Rs 2,640 from Rs 2,336

• Q1 showed operational miss, but management kept growth guidance unchanged

• Growth may benefit from the launch of new active ingredients

• Pressure on domestic pricing due to large R-32 capacity additions

• Valuation already factors in recovery in chemical segment

Jefferies on CMS Info System

• Maintained Buy rating with price target of Rs 580

• Q1 revenue growth remained weak due to low cash movement and delayed ATM rollout

• AGS Transact’s bankruptcy may have helped gain market share, but process is slow

• Delay in a major contract for 10,000 ATMs was a setback

• Acquisition of RMS platform expected to aid growth, profit, and business diversification

• Cut estimates by 5–8%, but retained Buy call

Morgan Stanley on REC

• Maintained Overweight rating with price target of Rs 485

• Q1 profit beat driven by reversal in provisions

• Pre-provision operating profit missed estimates by 5% due to fair value losses

Morgan Stanley on Sun Pharma

• Maintained Overweight rating with price target of Rs 1,960

• Sun and Taro agreed to pay $200 million to settle antitrust litigation over pricing

• Case relates to actions prior to 2015

• Sun holds $3 billion cash and is free cash flow positive, limiting financial impact

• No major impact expected on long-term earnings or fundamentals

• Sun continues to attract premium valuation due to specialty portfolio, regulatory compliance, and strong US pipeline

Citi on Aditya Birla Sun Life AMC

• Maintained Sell rating

• Increased price target to Rs 820 from Rs 750

• Operational performance improving, but sustainability is critical for re-rating

• SIP flow market share yet to recover

• Valuation remains low; waiting for visibility on gross flows and market share in AUM

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