Stock Recommendations Today: L&T Technology, Varun Beverages, Swiggy, Nykaa On Brokerages’ Radar

by | June 27, 2025 9:09 am | Latest Posts, Market, Trending News

L&T Technology Services Ltd., Varun Beverages Ltd., and Swiggy Ltd. were among the top companies on brokerages’ radar on Friday.

Morgan Stanley expects the Indian market to rise rather than fall, as growth data is anticipated to improve, the RBI is likely to stay dovish, and a strong earnings season is forecasted.

While JPMorgan has downgraded and cut target price of L&T Technology, UBS has initiated ‘buy’ rating for PNB Housing Finance.

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

JPMorgan On L&T Technology Services

  • JPMorgan has downgraded L&T Technology Services to ‘neutral’ from ‘overweight’ and reduced the target price to Rs 4,100 from Rs 5,000.

  • The stock has been placed on Negative Catalyst Watch.

  • The Mobility business is expected to face prolonged challenges due to delays in deal ramp-ups from automotive OEMs.

  • This is likely to drag overall growth in financial year 2026 below 10%, with organic growth estimated at just 3%.

  • The Hitech segment is also expected to face continued near-term headwinds, which will further pressure growth.

  • Margins are projected to be negatively impacted due to operating leverage effects.

  • The company is likely to revise its financial year 2026 revenue guidance downward over the next four months.

  • Earnings estimates have been cut by 9–11%, led by both revenue and margin reductions, with the target P/E multiple reduced from 32 times to 28 times.

Morgan Stanley India Strategy

  • Morgan Stanley expects the Indian market to rise rather than fall.

  • Growth data is anticipated to improve, the RBI is likely to stay dovish, and a strong earnings season is forecast.

  • However, global factors—including tariffs and wars—remain the most crucial influences.

  • A global recession or near-recession scenario could challenge the bullish outlook and cap market upside in 2025.

  • The firm believes that upcoming earnings will likely surprise to the upside, starting from July.

UBS On PNB Housing Finance

  • UBS has initiated coverage on PNB Housing with a ‘buy’ rating and a target price of Rs 1,300.

  • The stock is seen as a turnaround story with attractive valuations.

  • A mid-teen CAGR in AUM is expected, supported by product diversification.

  • Expansion into mid-tier segments is likely to fuel loan growth.

  • UBS expects AUM and EPS CAGR of 16% and 13% respectively over financial year 2025–2027.

. Read more on Markets by NDTV Profit.