Stock Recommendations Today: Trent, Ashok Leyland, HDFC Bank, DMart On Brokerages’ Radar NDTV Profit Desk NDTV Profit

Trent Ltd., Ashok Leyland Ltd., HDFC Bank Ltd., Avenue Supermarts Ltd., and steel stocks were among top companies and sectors on brokerages’ radar on Thursday.

In addition, Morgan Stanley’s India strategy is optimistic, expecting improved growth data, a more dovish stance from the Reserve Bank of India, and earnings beats in the upcoming season. However, the firm acknowledges that global cues, including US policy and growth rates, will play a crucial role in shaping India’s market trajectory.

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

Macquarie On Trent

• Initiated ‘outperform’ with target price of Rs 7,000.

• Is a leading fashion retailer, according to the brokerage.

• Trent India’s leading fashion retailer in the value to mid-premium space.

• Trent leads Asian peers on growth, return profile and inventory turns.

• Sees the company’s outperformance sustaining.

• Asia’s best retailing metrics and a play on India’s rising discretionary spend in fashion.

Citi On HDFC Bank

• Maintained ‘buy’ with a target price of Rs 2,200.

• Opened 90-Day Positive Catalyst watch.

• Expecting advances growth to have bottomed out in the third quarter.

• Sees lower NIM pressure through the cycle.

• Expects around 7% sequential deposits growth in the fourth quarter.

• Processes/infra readiness, digital capabilities, expanded distribution, augmented customer base will aid targeted system average growth by the last quarter of FY26.

• With levers in place, NIMs should trend relatively better and be range-bound.

• No unusual stress in any segments and credit cost is expected to be contained.

Emkay On Steel Stocks

• Initiated coverage on Tata Steel with ‘buy’ at Rs 185 target, 19% upside to previous close.

• Initiated coverage on Steel Authority of India with ‘add’ at Rs 120 target (6% upside).

• Initiated coverage on JSW Steel with ‘add’ at Rs 1,100 target (4% upside).

• Initiated coverage on Jindal Steel and Power with ‘reduce’ at Rs 825 target (11% downside).

• Expects 7-8% growth in steel consumption over the next five years.

• Brokerage has a neutral-to-positive stance on the sector.

• Favoured exposures: Tata Steel, JSW Steel.

JPMorgan On Tata Steel

• Maintained ‘overweight’ with a target price of Rs 180.

• Broad investor view on the stock is neutral-to-slightly positive after the sharp rally.

• Several investors agree that European tailwinds could be tangible.

• Potential China supply side reforms could drive a continued rally in Indian steel stocks.

• There are still mixed views on the stock.

Bernstein On Avenue Supermarts

• Maintained ‘outperform’ with a target price of Rs 5,800.

• March towards 1,000 stores,

• Presence in around 750 cities is needed to capture the serviceable addressable market for a value grocery retailer.

• DMart has three ways to grow from here: Go deeper into west and south India, expand into north and east India and strong cash flow and land acquisition.

• Expects 60/75 new stores for FY26/FY27.

• Remains convinced about getting to 1,000 stores by FY35.

Brokerages On Ashok Leyland

Nomura

• Maintained ‘buy’ with a target price of Rs 250.

• Switch India to drive growth, UK to shut down.

• With no clear visibility on the EV bus market in the UK, cessation of operations appears to be a step in the right direction.

• Management mentioned that the current loss is 2 million pounds per month.

• Switch India is likely to turn Ebitda breakeven this year.

• See potential to create value with strong growth planned for the next year.

Morgan Stanley

• Maintained ‘overweight’ with a target price of Rs 284.

• The move to close UK EV manufacturing and focusing on its Indian supply base is a positive.

• It reduces cash burn and will also bring economies of scale to India.

• Don’t value Ashok Leyland’s EV business in our base case.

• Visibility on turnaround in the UK business was low.

Macquarie

• Maintained ‘neutral’ with a target price of Rs 234.

• Restructuring sentiment positive, offset by share pledge.

• The India business outlook remains constructive.

• Near-term earnings upside is capped with moderation in MHCV volumes.

BofA

• Maintained ‘buy’ with a target price of Rs 260.

• Switch UK wind-down a sensible move.

• India EV business ramping up well.

• In the analyst call, the company reaffirmed its focus on domestic market.

HSBC On Adani Ports

• Maintained ‘buy’ with a target price of Rs 1,600.

• Reiterated Ebitda guidance of Rs 18,800-18,900 crore in FY25.

• Limited impact from trade tariffs.

• Ambition to become an integrated end-to-end logistics service provider.

• View it as a long-term proxy for India’s trade and infrastructure growth.

DAM Capital On Aavas Financiers

• Downgrade to ‘neutral’ from ‘buy’ with a target price at Rs 2,100.

• Becomes priciest (earnings multiple), no room for further upside.

DAM Capital On Aadhar Housing Finance

• Initiated ‘buy’ with a target price of Rs 525.

• Best geographic granularity among affordable peers.

• More holistic mix of sourcing channels.

• Aadhar Housing Finance scores better than key peers.

• A growth target of 20-22% would ensure calibrated use of its different sourcing channels.

• Relatively higher return on assets would ensure relatively better return on equity at peak leverage.

• Expects RoEs to be 16-17% over FY25-FY27 and could peak at 18% before the next raise kick-in.

UBS On Paints

• Dealers expect the demand situation to improve in FY26.

• Competitive dynamics to remain intense with the entrance of Birla Opus.

• Premiumisation story is still a long-term structural theme.

Axis Cap On JK Lakshmi Cement

• Initiated ‘add’ with a target price of Rs 880.

• Sees a robust 8.3% growth in volume over FY25-28, led by expansions.

• Rebranding and cost-saving efforts are driving a 30% rise in unitary Ebitda over FY25-27.

• Aggressive growth plans in the non-cement business.

• Over FY25-27, estimates 24% growth in Ebitda and 48% rise in net profit, led by better volume and margin.

• Net debt is expected to rise 30% over FY25-27 due to high growth capex.

CLSA On Samvardhana Motherson International

• Maintained ‘outperform’ with a target price of Rs 167.

• Potential doubler in three years.

• Steady execution in adverse market and subdued valuation, setting up base.

• Building in 11% revenue growth in FY25-29 compared to 24% growth in FY22-24.

• Improving return on capital employed and leaner balance sheet as well as better market outlook to drive re-rating.

Morgan Stanley On India Strategy

• Expects growth data to improve, RBI to get more dovish, and an earnings beat in the upcoming earnings season.

• Most crucial cues will be global, including US policy and growth rates.

• A global recession, or near recession, would challenge our bullish call and keep equities off highs in 2025.

• Uncertainty is good for buyers.

• Think the sell side is set to be surprised to the upside in the coming earnings season starting April.

Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.

. Read more on Markets by NDTV Profit.Adani Ports, Aavas Financiers, Aadhar Housing Finance and JK Lakshmi Cement are some of the other stocks on analysts’ radar today.  Read MoreMarkets, Business, Notifications 

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