Stock Picks Today: Insurance, Delhivery, Hexaware, Bajaj Finserv On Brokerages' Radar

The insurance sector, Hexaware Technologies Ltd., Bajaj Finserv Ltd., Vinati Organics Ltd., Delhivery Ltd., and Syrma SGS Technology Ltd. are among the companies and sectors garnering brokerage commentary today.

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

• The Group of Ministers has suggested GST exemption on retail life and health insurance.

• The scope of the exemption remains unclear.

• With the GST exemption, the Input Tax Credit (ITC) benefit is likely to go away.

• The price for the end-consumer will certainly go down, but the exact amount is unclear.

• The removal of ITC will bring focus on commissions and other non-salary operational expenses.

• Initiated Buy with a target price of Rs 950.

• In a sweet spot of growth and value.

• Revenue is in a sweet spot to outstrip industry growth.

• Multi-pronged vertical presence and coveted clientele.

• Stable margins and cash flow profile.

• Recent correction sweetens the appeal.

• Initiated Buy with a target price of Rs 2420.

• Grooming Financial Ventures.

• Poised to benefit from tailwinds of lower rates and improving profitability in life and general insurance businesses.

• New ventures like mutual funds, healthcare, tech & ventures can add optional value.

• See limited impact from the exit of Allianz and the entry of Jio Financial.

• Expect a 22% Compound Annual Growth Rate (CAGR) in core earnings.

• Q1 Review: Growth moderates and asset quality pressure rises.

• NIMs were range-bound QoQ, but should improve from Q2 onwards, especially for SBI Card and Chola Finance.

• Expect growth to stabilize and credit costs to moderate in H2.

• A post-monsoon pickup in economic activity and festive demand is key.

• Top picks remain Bajaj Finance, Cholamandalam Investment and Finance Company Ltd., and Shriram Finance Ltd.; Muthoot Finance Ltd. is a defensive play.

• Maintained Sell; hiked target price to Rs 1280 from Rs 1170.

• Input cost benefits are likely to be passed along.

• Muted revenue growth was more than offset by sharp margin expansion.

• Management reiterates the growth outlook; waiting for growth projects continues.

• Project slippages and competition are key risks.

• Maintained Neutral; hiked target price to Rs 390 from Rs 375.

• Growth acceleration only due to e-commerce express.

• See headwinds on industry growth as quick-commerce gains market share from e-commerce.

• Believe yield dilution on a higher proportion of light parcels provides limited room for upside.

• Believe it will take some time to get a better handle on the margins for the company post-restructuring.

• Maintained Overweight; hiked target price to Rs 950 from Rs 800.

• Baking in QIP (Qualified Institutional Placement) in estimates.

• Proceeds to be used for M&A.

• Don’t think the mobile segment would be an area for M&A given low margins.

• The last major M&A was margin accretive.

• Expect Syrma to be the third-fastest-growing company, at a 30% revenue CAGR over FY25-28.

• Trump tariffs should trigger the next leg of rate cuts.

• The August Monetary Policy Committee meeting’s minutes show that the rate cut cycle is highly sensitive to ongoing trade tensions.

• Believe the RBI will likely lower its FY26 forecasts for both GDP growth and CPI inflation in coming policy meetings.

• Expect 25 bps cuts in each of the October and December meetings, taking the policy rate to a terminal rate of 5%.