Stock Picks Today: Axis Bank, RIL, JSW Infra, NTPC, L&T Tech And More On Brokerages' Radar

Axis Bank Ltd., Reliance Industries Ltd., JSW Infrastructure Ltd., NTPC Ltd., Non-Bank Financial companies, and L&T Technology Services Ltd. are among the companies garnering brokerages' commentary today.

Analysts have shared their insights and, in several cases, revised their target prices based on their updated fundamental outlooks for these firms. Here are the key analyst calls to watch out for today:

• Maintained Outperform; cut target price to Rs 1,250 from Rs 1,330.

• Once seen as a turnaround story, Axis has shown stagnation over the past 1–2 years in both stock price and key operating metrics.

• Remain hopeful for near-term improvement in asset quality and stable deposit market share.

• These assumptions support the case for a value buy at current valuations.

• India's DGTR has recommended ADD (Anti-Dumping Duty) on imports of S-PVC resin for 5 years.

• India imports 45-50% of total PVC demand, with the majority from China.

• The recommended ADD on Chinese producers is higher at $122-232/MT (17-33% duty).

• Lower duties are recommended for other countries.

• ADD imposition could stop the fall in PVC prices and help channel restocking.

• Supreme Industries and Finolex Pipes are rated Buy, while Astral is rated Hold.

• Earnings growth improved sequentially in Q1, marking a recovery.

• Beat was driven by stronger-than-expected revenue growth, which exceeded low analyst expectations.

• Earnings growth and breadth improved sequentially, while relative stock performance declined QoQ.

• Earnings for the broad market were in line with narrow indices.

• Improving growth and recent developments provide triggers for indices to make new highs.

• Sell-side expectations remain low, so be ready for a beat over the next few quarters.

• Q1 was a largely in-line quarter.

• High single-digit earnings growth amid global headwinds and mixed domestic macroeconomic conditions.

• Income tax cuts, lower inflation, policy rate easing, a good monsoon, and festive demand will lead to further growth recovery in H2.

• Concerns remain over the external environment, particularly the US growth slowdown and the evolving tariff situation.

• Upgrading the Materials sector to Overweight and downgrading Pharma to Underweight.

• The upgrade is driven by domestic demand, policy tailwinds, and expectations of production cuts in China.

• The downgrade is due to 40% outperformance, tariff uncertainties, an anticipated decline in gRevlimid's contribution in H2, and a generally low-growth profile.

• Expect EPS growth to be in-line with nominal GDP growth for CY25/26.

• Reiterate preference for domestic over exporters and thus like Banks, Consumer (ex-Autos), Hospitals, Real Estate, Defense, and Power.

• Expect Nifty 50 to trade between the base (26,500) and bull case (30,000) targets over the next six to nine months.

• Maintained Buy; cut target price to Rs 1,670 from Rs 1,726.

• Annual Report shows a rise in capitalised costs in Jio and Retail.

• FCF improvement is driven by Jio.

• Priorities include home broadband and enterprise in Jio, improving growth and FMCG in Retail, and renewable in O2C.

• Maintained Buy with a target price of Rs 375.

• Capacity additions to drive earnings growth.

• Identify two key catalysts for JSW Infra over the next eighteen months: a 31% capacity addition through commissioning of under-development ports/terminals, and potential project wins with an uptick in Public-Private Partnership (PPP) project awards.

• The 2.3x capacity rise target to 400 MT by FY30E is intact, with an upside risk from the bid pipeline.

• Logistics is a sweetener.

• Maintained Outperform with a target price of Rs 433.

• NTPC increased its 2032 capacity guidance to 149 GW from 132 GW.

• Re-emphasized its Rs 7 trillion capex plan until then.

• Nuclear: Strong emphasis on the 30 GW target by 2047.

• Renewables: Confidence in their ability to execute 6 GW this year and 8 GW in the next.

• New areas: Battery storage at thermal plants is being tested, and Green Ammonia continues to participate actively in tenders.

• Thermal: Nothing new - 16 GW under construction and another 7.2 GW to be ordered this year.

• Continue to like NTPC as one of our top picks.

• For insurers, the impact is likely to be neutral to positive.

• For lenders, higher unit volumes will need to offset lower disbursal per unit.

• Near-term revenues could be hurt by demand deferral.

• Durable impact on revenues and asset quality could be positive.

• If GST is reduced to 5% and there is no provision for ITC, insurers are likely to raise prices to offset the loss of ITC benefit.

• If a 5% rate is approved with ITC, it should be a win-win for insurers and consumers because the effective cost to the consumer can move lower.

• Similar to life insurance, the benefit from any higher business in retail health insurance is likely to accrue.

• GST rate cuts could ignite animal spirits, driving up general throughput in the economy.

• The impact of GST rate reductions on asset quality depends on the overall reception of the benefits.

• Maintained Hold with a target price of Rs 4,790.

• Q2 is likely to be the bottom for L&T Tech.

• Autos may continue to be weak but other segments should make up for growth.

• Maintains double-digit CC growth in FY26e and is confident of its investments to take growth to mid-teens.

• L&T Tech has the best ER&D capabilities, but weaker organic growth than peers in the near term keeps them on Hold.