Several brokerages initiated coverage and reiterated positive views on companies across e-commerce, insurance, education technology, metals and aviation sectors.
Jefferies On Meesho
- Initiate Buy; TP Rs 225
- Building a scale-led value commerce platform anchored in affordability, discovery and logistics efficiency
- Loyal user base and deep MSME supplier network driving a strong growth flywheel
- Growth-led strategy to keep monetisation back-ended with take rates expanding over time
- Forecast 25% NMV CAGR and c3% adjusted EBITDA margin by FY30
- Net cash balance sheet and negative working capital support capital-efficient growth
HSBC On Max Financial Services
- Initiate Buy; TP Rs 2,120
- Axis Max Life among the fastest-growing life insurers in India
- Distribution and product diversification to drive sustainable growth
- Stable margins and predictable earnings outlook
- Sustained operating performance and merger progress key catalysts
DAM Capital On PhysicsWallah
- Initiate Buy; TP Rs 140
- One of the few Indian ed-tech companies to achieve scale without sacrificing profitability
- Expect 24% revenue CAGR and 71% EBITDA CAGR over FY26-28
- Online category expansion and maturing offline centres to drive growth
- Benefits from operating leverage through centralised content and faculty infrastructure
JPMorgan On Colgate-Palmolive
- Maintain Neutral; TP Rs 2,250
- Premiumisation remains the key growth driver
- Positive FY27 outlook supported by balanced volume and pricing growth
- Oral care category expected to remain resilient amid inflationary pressures
- Higher brand investments likely to keep EBITDA margin expansion capped
JPMorgan On Aegis Logistics
- Maintain Overweight; TP raised to Rs 1,150 from Rs 1,010
- LPG supply shortfall easing and expected to normalise by Q2FY27
- EBITDA per tonne of Rs 7,000 seen sustainable through FY27-28
- Diversified sourcing reducing Middle East dependence
- Raise FY27-28 EPS estimates by 14-18%
HSBC On NALCO
- Maintain Buy; TP Rs 480
- Guinea’s bauxite export restrictions boosting alumina and bauxite prices
- Domestic aluminium premiums reset higher
- Domestic aluminium prices estimated to be up 17%
- Attractive valuation at 5.1x EV/EBITDA
Jefferies On Metals
- JSW Steel remains top sector pick
- Historical trends suggest stronger returns despite elevated valuation multiples
- FY27-28 earnings estimates for JSW Steel and Tata Steel remain above Street expectations
- Multiple expansion typically precedes earnings upgrades
Jefferies On Pharma CDMOs
- WuXi AppTec restrictions create opportunity for Indian CRDMOs
- China+1 opportunity estimated at $700 million annually
- Top picks: Sai Life Sciences and Divi’s Laboratories
- Strong small-molecule and peptide capabilities key beneficiaries
Macquarie On Pharma CDMOs
- Divi’s Labs: Outperform; TP Rs 7,500
- Cohance: Outperform; TP Rs 1,150
- Syngene: Outperform; TP Rs 835
- Supply-chain diversification could accelerate growth for Indian CDMOs
- Indian CDMO market could double in the medium term
Nuvama On IndiGo
- Retain Buy; TP raised to Rs 5,335 from Rs 5,054
- Indian aviation passenger traffic expected to double by FY35
- International business remains key growth driver
- Order book of 901 aircraft provides long-term visibility
- Well-positioned to benefit through industry downcycles
Kotak Institutional Equities On Quick Commerce
- Retain Buy on Eternal; Fair Value Rs 385
- Top three players ended FY26 with 4,525 stores and quarterly NMV of Rs 277 billion
- Competitive intensity remains elevated
- Blinkit growth expected to revive in the near term
- Market leaders showing improved discipline
Macquarie On Lenskart
- Maintain Outperform; TP Rs 600
- Domestic growth momentum remains strong
- International business scaling faster than India at a similar stage
- Expect EBITDA CAGR of over 35% during FY26-29
- EPS expected to triple over the same period
CLSA On SBI
- Maintain Outperform; TP Rs 1,275
- Stronger priority-sector lending compliance and retail deposit growth key positives
- Salary account franchise crossed 20 million accounts
- Ongoing operational transformation to improve efficiency
- Lower RIDF drag supportive of NIM outlook
ALSO READ: Five Stocks To Buy: Dixon Tech, Belrise Industries, Marksans Pharma And More | June 10, 2026
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