Stock Picks Today: Lenskart, Titan, Dixon Technologies And More On Brokerages’ Radar

A host of global and domestic brokerages have released fresh views on Lenskart Ltd., Dixon Tech Ltd., Muthoot Finance, Cholamandalam Investment, and more ahead of Tuesday's session.

They have also shared their outlook on aviation, IIP, alongside broader cross-sector trends.

• Emkay initiates coverage with a Buy rating and a target price of Rs 525.

• Multifold growth in India is expected to unlock global TAM and adjacent opportunities.

• The Indian eyewear industry, valued at around $9 billion, has strong macro tailwinds.

• Emkay believes strong medium-term prospects justify superlative valuations.

• Unit economics are viewed as superior, even versus the best global peers.

• A deep-dive into global peers suggests scalable optionalities.

• A healthy balance sheet with around Rs 40 billion of net cash supports growth investments.

• Motilal Oswal reiterates a Buy rating with a target price of Rs 3,145.

• The partnership with Biocon marks a meaningful step in introducing newer therapies.

• Ajanta’s surplus cash position provides a cushion to acquire complementary products.

• The brokerage expects Revenue, EBITDA, and PAT CAGR of 11%, 15%, and 16% over FY26–28.

• The company is confident of delivering double-digit YoY revenue growth in FY26.

• Motilal values the stock at 30x 12-month forward earnings.

• Nuvama retains a Buy rating with a target price of Rs 4,672.

• Around 90% of inventory is priced below Rs 100,000 in the 1,000 sq. ft. Mumbai store.

• Median pricing remains flexible and responsive to customer input.

• The current format does not include a savings scheme for instalment purchases.

• The beYon format focuses on designer jewellery featuring lab-grown diamonds.

• Emkay notes festive season demand boosted domestic air traffic in November 2025.

• India’s domestic passenger traffic rose 7% YoY, driven by festive travel demand.

• IndiGo faced disruptions due to weather issues, software challenges, and FDTL implementation.

• IndiGo’s market share declined by 200 bps MoM to 63.6% in November 2025.

• SpiceJet’s market share rose by 110 bps MoM to 3.7%, supported by additional slots and fleet expansion.

• Air India Group’s market share increased by 100 bps MoM to 26.7%.

• ATF prices for January 2025 are expected to decline by 5–6% MoM due to lower crude prices.

• CLSA maintains an Outperform rating and cuts the target price to Rs 15,880 from Rs 18,800.

• The brokerage remains positive on medium-term recovery visibility.

• Margin improvement is expected through backward integration in smartphones.

• The near-term outlook remains weak.

• Revenue is expected to be flat YoY in Q3, with a QoQ decline likely.

• Risk of FY26 guidance cuts is emerging.

• FY26–27 EPS estimates have been cut by 16–17% due to lower volumes and margin delays.

• FY28 EPS remains largely unchanged, with recovery expected over time.

• Investec maintains a Buy rating with a target price of Rs 400, implying 46.3% upside.

• Global LNG supply is expected to rise sharply in 2026, the fastest growth since 2019.

• Lower spot LNG prices should revive price-sensitive industrial demand.

• Petronet currently trades below its historical valuation band, offering an attractive entry point.

• A prolonged global LNG glut is likely to structurally lift India’s LNG imports over the next 3–5 years.

• Investec expects earnings growth and valuation re-rating, making Petronet its top oil & gas pick for 2026.

• Morgan Stanley hikes the target price to Rs 4,385 from Rs 4,050 earlier.

• FY26–28 EPS estimates are raised, driven by higher gold loan growth.

• FY26 loan growth estimate is raised to 50% YoY from 43% earlier.

• The brokerage builds in 17.5% QoQ gold loan growth in Q3.

• This compares with a 23% QoQ rise in average gold prices.

• An 8% increase is expected in the SOTP-based price target and scenario values.

• Morgan Stanley maintains an Overweight rating with a target price of Rs 4,062.

• Tanishq has launched a Diamonds Expertise Centre.

• The initiative will be rolled out gradually across the store network.

• Morgan Stanley believes this will further strengthen trust in the Tanishq brand.

• The initiative is expected to increase customer awareness of diamond adulteration.

• Morgan Stanley hikes the target price to Rs 1,640 from Rs 1,540 earlier.

• EPS estimates are raised by 0.1%, 0.4%, and 0.7% for FY26, FY27, and FY28 respectively.

• The upgrade is driven by higher loan growth assumptions.

• FY25–28 loan CAGR is projected at 19.2%, up from 18.5% earlier.

• Loan growth is expected to be led by the vehicle finance segment.

• Motilal Oswal reiterates a Buy rating with a target price of Rs 1,450.

• The company expects industry demand to start accelerating from Q4FY26.

• Industry growth is expected at 7–8% in FY27, led by volumes.

• Indigo Paints has consistently grown faster than the industry.

• Motilal expects 14% revenue CAGR over FY26–28E.

• EBITDA and PAT CAGR are modelled at 16% and 18% respectively over FY26–28E.

• The stock is valued at 35x FY27E EPS.

• Nomura notes a pickup in industrial production growth in November, above market expectations.

• Capital goods and infrastructure sectors outperformed consumer goods.

• Labour-intensive sectors remain under pressure amid Trump-era tariff risks.

• Outperformance was driven by computers, electronics, and transportation.

• Nomura remains positive on India’s economic outlook for FY27.

• CLSA describes an eventful end to 2025 for India’s macro landscape.

• The government passed key bills and the RBI injected liquidity.

• Budget constraints for the central government are expected to ease.

• Ten-year bond yields are expected to move toward 6.5% from a peak of 6.65%.

• These measures could collectively amount to a 0.2% boost to GDP.

• CLSA notes IIP growth hit a 25-month high of 6.7% YoY in November.

• This compares with market expectations of 3.6% YoY.

• The growth pickup was broad-based, led by manufacturing.

• IIP growth for Q3FY26 is expected to exceed 4% YoY.

• Risks include global uncertainty and shrinking government expenditure.

• A revival of an India–US trade deal would be a mild positive surprise.

• A revision of the IIP index is expected next year.