Stock Recommendations Today: LIC, Mahindra & Mahindra, Mazagon Dock, Ola Electric On Brokerages’ Radar NDTV Profit Desk NDTV Profit

Life Insurance Corp. of India, Mahindra & Mahindra Ltd., Mazagon Dock Shipbuilders Ltd. and Ola Electric Mobility Ltd. are among the top companies on brokerages’ radar on Monday.

Further, analysts have also given their take on the RBI Monetary Policy Committee meet, which concluded on Friday. The central bank decided to cut the repo rate for the first time in five years.

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

Brokerages On RBI MPC Outcome

Macquarie

• The RBI has reduced the repo rate by 25 bps. Macquarie expects further cuts of 25-50bps.

• This could lead to margin compression of 10-15bps for banks, which is already reflected in expectations.

• The key factor will be how much loan and deposit growth recovers from current levels of 11%.

• All prudential norms will be implemented, possibly with relaxed timelines and a phased approach.

BofA

• The MPC has adopted a neutral stance while signaling room for more rate cuts.

• A slow but steady rate-cutting cycle is anticipated.

• RBI’s growth forecasts align with the Ministry of Finance.

Nomura

• The confirmation of the new RBI governor suggests a shift in policy regarding rates, liquidity, FX, and regulations.

• Nomura expects 75bps of further rate cuts and increased liquidity easing.

• The RBI has adopted a more relaxed exchange rate approach, intervening mainly to manage volatility, the brokerage said.

UBS

• The RBI cut the repo rate by 25bps to 6.25% to support growth and ensure adequate system liquidity.

• Managing inter-bank liquidity is essential for improving monetary transmission, UBS said. It expects the RBI to cut rates by a total of 75bps in this cycle.

Morgan Stanley

• The RBI’s policy rate cut of 25bps to 6.25% aligns with expectations, with a neutral stance maintained.

• Anticipate additional liquidity measures before the end of March and a further rate cut of 25bps in April.

Brokerages On M&M

Macquarie

• Macquarie maintained an ‘outperform’ rating on M&M and raised the target price to Rs 3,643 from Rs 3,511.

• The third quarter performance was strong, and they are optimistic about tractor demand and the company’s BEV traction.

• The underlying auto segment remains strong, although headline margins will be impacted by EV losses in financial year 2026.

Nomura

• Nomura maintained a ‘buy’ rating on M&M, raising the target price to Rs 3,681 from Rs 3,664.

• Third quarter results were in line with estimates, and tractor guidance has been raised.

• The BEV launch is expected to be the next major catalyst for the company.

Goldman Sachs

• Maintained a ‘buy’ rating on M&M, raising the target price to Rs 3,800 from Rs 3,700.

• The third quarter results were positive, with strong demand visibility for both SUVs and tractors.

• Anticipates improving demand visibility for M&M’s EV segment.

BofA

• BofA maintained a ‘buy’ rating on M&M, with a target price of Rs 3,650.

• The auto business is performing steadily, and there is potential for capacity expansion in ICE.

• The company’s EVs are now expected to contribute to growth, and the tractor business is accelerating, although the overseas farm segment needs attention.

Macquarie On LIC

• Macquarie maintained an ‘outperform’ rating on LIC, with a target price of Rs 1,215.

• Despite a large VNB miss in third quarter due to low growth and margin, the balance between growth and margin is critical, with this being a key monitorable for LIC’s future performance, the brokerage said.

Brokerages On Life Insurance

Nomura

• Growth momentum in the life insurance sector shows signs of improvement.

• Private insurance players outpaced the overall industry in January 2025, with 20% year-on-year growth.

• Despite a correction in equity markets, growth trends improved month-on-month.

• However, growth in bancassurance-led players was relatively lower than agency-led players, and Nomura sees this as a key area to monitor.

HSBC

• HSBC highlights a promising start to the year for the life insurance sector.

• Individual APE growth recovered in January from a slow third quarter, influenced by new surrender norms.

• SBI Life’s individual APE growth is recovering and sustained healthy APE growth is expected to be a positive catalyst.

Jefferies

• Jefferies notes that private life insurers are leading growth, with HDFC Life and SBI Life ahead.

• ICICI Pru is lagging, but overall life insurance retail APE growth rose 11% YoY in January.

• Private insurers grew 20% YoY, while LIC fell by 7%.

JPMorgan On Mazagon Dock

• JPMorgan maintained a ‘neutral’ rating on Mazagon Dock and raised the target price to Rs 2,262 from Rs 2,124.

• The company performed better than expected in terms of margin for third quarter, with large orders in the pipeline.

• However, the order book has stagnated, and the potential for margin to be lower remains due to delays in large award wins.

Nomura On Anant Raj

• Nomura initiated coverage with a ‘buy’ rating and a target price of Rs 750.

• The company is poised to meet medium-term data center and cloud targets with comfortable debt/equity ratios.

• Strong demand in the GCER area should bolster the residential segment’s cash flow.

• Nomura expects Anant Raj to launch multiple projects in financial year 2025 and financial year 2026, and they see the risk-reward ratio as favourable after the share price correction.

Goldman Sachs On Ola Electric Mobility

• Maintained a ‘buy’ rating on Ola, but lowered the target price to Rs 101 from Rs 118.

• The company exceeded revenue expectations in third quarter, as the impact of post-festive discounts was lower.

• Management focused on improving service network coverage and product quality, although GS lowered estimates by 2-5% to account for lower ASP growth.

Jefferies On Sobha

• Jefferies maintained a ‘hold’ rating on Sobha, lowering the target price to Rs 1,450 from Rs 1,550.

• Third quarter was subdued, and Sobha was expected to fall short of its pre-sale’s guidance.

• However, the company’s launches are expected to revive in fourth quarter, and it is entering new markets.

• A strong net cash balance sheet and good operating cash flow are positive factors.

Brokerages On Delhivery

Goldman Sachs

• Maintained a ‘neutral’ rating on Delhivery and lowers the target price to Rs 370 from Rs 400 per share.

• The company missed volume and margin expectations in third quarter, with weak performance in the Express Parcel segment.

• The impact of operating leverage in PTL volumes is expected to be a more significant factor for driving incremental margins.

Morgan Stanley

• Downgraded to ‘equal-weight’ from ‘overweight’ and cuts target price to Rs 320 from Rs 450 amid sharp earnings miss.

• Limited growth visibility for the industry and push out of profitability drives brokerages downgrade.

• Delhivery has strong competitive moats and a large optionality value from any potential consolidation.

• Uncertainty around timeline for the same makes risk reward less exciting at this point.

Jefferies On Alkem Labs

• Maintained an ‘underperform’ rating on Alkem Labs and cut the target price to Rs 4,580 from Rs 5,080.

• Despite margin improvement, growth remains a challenge.

• Competitive intensity in trade generics and a weak acute season resulted in muted growth in India.

• Alkem’s US growth is expected to be modest due to price erosions.

• Jefferies has reduced financial year 2026/27 EPS estimates by 2-3%.

HSBC India Strategy

HSBC highlighted five of its equity analysts’ best ideas, focusing on companies that are well-positioned to perform despite the broader slowdown in growth.

These companies are seen as having strong or improving growth prospects, creating a good opportunity for investors despite recent sell-offs.

Dixon Technologies: The growth story for Dixon should continue, driven by favourable industry trends, supportive policies, and the company’s strong execution capabilities.

Maruti Suzuki: The market seems to be undervaluing Maruti’s export potential, which is expected to be a significant driver of growth.

PB Fintech: PB Fintech is expected to grow at 2-3 times the industry average due to its strong competitive advantages.

Godrej Properties: With a pan-India presence, a solid balance sheet, strong brand, and a large land bank, Godrej Properties remains well-positioned to grow, even in the current challenging market conditions.

LTIMindtree: The company should benefit from increased demand, especially from banking clients, making it a strong contender in the tech space.

. Read more on Markets by NDTV Profit.Analysts have also given their take on the RBI Monetary Policy Committee meet, which concluded on Friday.  Read MoreMarkets, Business, Notifications 

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