Stock Calls Today: SBI Cards, Adani Ports, ICICI Bank, Auto Sector On Brokerages' Radar

Adani Ports & Special Economic Zone Ltd., SBI Cards and Payment Services Ltd., Polycab India Ltd., ICICI Bank Ltd., RBL Bank Ltd., and companies within the telecom sector are on the radar of brokerages today.

Analysts have shared their insights, with many revising their target prices based on recent company data and sector-wide trends. Here are the key analyst calls:

• Maintained Buy with a target price of Rs 1,700.

• Cites the company's "transformational journey" and its scaling in ports and logistics.

• Notes that the logistics business is "growing exponentially" and marine services are a "capital-efficient growth engine."

• Forecasts a CAGR of 16%, 16%, and 21% in revenue, Ebitda, and PAT, respectively, over FY25-27.

• Maintained Underweight with a target price of Rs 710.

• Notes that SBI Cards' July spend market share increased to 16.8% in July from 16.7% in June.

• July spending increased 6.5% month-over-month for SBI Cards, compared to a 5.9% increase for the industry.

• There could be a benefit from an acceleration in corporate spending, which had declined sharply last year.

• Maintained Buy with a target price of Rs 8,180.

• Highlights "consistent execution" with double-digit Cables and Wires sales growth over the past 12 quarters.

• Key drivers include diverse sales streams, power capex, a turnaround in Fast Moving Electrical Goods margins, and strong order books.

• Estimates a FY25-28 EPS CAGR of over 26%.

• Notes that the FY27 P/E is now at 32 times, in line with its historical five-year average.

• Maintained Buy with a target price of Rs 1760.

• The FY25 annual report shows a rise in the risk profile of assets, with a higher share of lower-rated loans (SME) and RWA/assets. However, asset quality has held up and credit costs remain low.

• NPLs (Non-Performing Loans) are at their highest in five years.

• PSL (Priority Sector Lending) is improving and will limit the drag from compliance costs.

• Deposits rose 14%, and the "micro-market strategy" is paying off.

• Attrition fell to 18%, which is lower than peers.

• ICICI remains among the brokerage's top picks.

• Maintained Buy with a target price of Rs 300.

• Management expects Return on Assets to trend upwards to 1% by Q4.

• Loan growth for FY26 is expected to trend 3-4 percentage points higher than the industry, at 13-14%.

• Asset quality trends in both MFI and cards are seen as improving throughout the year.

• The bank has no meaningful exposure to unsecured MSME loans, and asset quality trends in business banking and housing portfolios are stable.

• The bank will be taking an enabling board resolution for a potential capital raise in FY26 but intends to improve RoA first.

• Refreshed forecasts and reaffirmed a positive view of sector fundamentals, even with conservative Average Revenue Per User assumptions.

• Reliance Jio's pivot to 'value over volume' is driving a stronger Ebitda growth outlook relative to Bharti Airtel.

• Added Tata Communications to the Asia Marquee list, alongside Reliance.

• Remains positive on Bharti Airtel.

Ratings and Price Targets:

• Bharti Hexacom – Maintained Underperform; cut TP to Rs 1,380 from Rs 1,480.

• Vodafone Idea – Maintained Underperform; cut TP to Rs 5 from Rs 6.5.

• Reliance – Maintained Outperform; hiked TP to Rs 1,650 from Rs 1,580.

• Airtel – Maintained Outperform with TP of Rs 2,050.

• Tata Communications – Maintained Outperform with TP of Rs 2,210.

• Indus Towers – Maintained Underperform with TP of Rs 300.