A host of key stocks are in focus today as top brokerages released their latest research notes post Q4 results. From earnings beats to guidance downgrades, here’s a look at notable brokerage actions:
Dalmia Bharat share price
Morgan Stanley: Underweight | TP: ₹1,650
4QFY25 results disappointed with revenue of ₹4,090 crore, 6% below estimates. Volumes declined 3% YoY against a forecasted 3% rise. Weak realizations (+0.3% QoQ vs est. 1.2%) and poor pricing in the southern region weighed on earnings. EBITDA/t came in at ₹926/t, below estimates.
Can Fin Homes share price
Morgan Stanley: Overweight | TP: ₹800
Q4 PAT of ₹240 crore beat estimates by 8%, driven by a lower tax rate. PPOP rose 8% YoY, with disbursements of ₹2,460 crore (+31% YoY). FY26 loan growth outlook is now a key monitorable.
Bajaj Finance & Bajaj Housing Finance share price
Morgan Stanley on Bajaj Fin: Overweight | TP: ₹10,500
BHFL reported strong PAT growth of 7% QoQ. Morgan Stanley expects consolidated Bajaj Finance PBT/PAT to rise 4.7%/4.2% QoQ, but warned that spreads may compress by 10-15bps in FY26 with rate cuts.
HSBC on Bajaj Housing Fin: Reduce | TP: ₹100
Yield pressure and high cost ratios prompted a downgrade. HSBC cut FY26-27 EPS estimates by ~3%, expecting slower growth.
Tata Consumer Products share price
Nomura: Buy | TP: ₹1,300
Strong growth in core and growth businesses. OPM is improving; EBITDA/EPS CAGR of 13%/18% forecast for FY25-28.
Jefferies: Hold | TP: ₹1,100
Margins remain under pressure due to tea inflation. Despite strong topline, valuation concerns (70x FY26E P/E) prompted a downgrade.
CLSA: Hold | TP: ₹1,044
Q4 sales rose 17% YoY; EBITDA missed due to higher costs. PAT was revised upward slightly due to lower finance expenses.
CITI: Buy | TP: ₹1,325
Margins likely to recover in 2HFY26. Growth in e-com and Starbucks business, along with strong core performance, supports bullish view.
LTIMindtree share price
Nomura: Neutral | TP: ₹4,300
Q4 revenue modestly missed expectations. FY26 seen as a “repair year”. Incoming CEO’s focus on sales revamp and large deal structure highlighted, but margin recovery could be slow.
Anant Raj share price
Nomura: Buy | TP cut to ₹700
Despite a reduced TP due to fund-raising delays, strong visibility in the residential and data center segments keeps outlook attractive. EPS CAGR forecast at 40% over FY26-27F.
Disclaimer: Brokerage recommendations are their own and do not represent the views of this publication. Investors should consult certified financial advisors before making any investment decisions.
